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Mnuchin Announces The Country Could Be Broke By September
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<blockquote data-quote="bacha29" data-source="post: 4128641" data-attributes="member: 58386"><p>Kudlow ( an admitted recovering alcoholic) is out there leading the 4% annual GDP growth parade and 4% for many years to come is a claim being disputed by the Federal Reserve which is projecting a far more sensible 2%. Trouble is in order for the revenue losses from the tax cut to be offset a 4% GDP growth every year is required which will never happen. Right now the deficit for the current year is running 23% higher than last year but with borrowing limits having kicked in this past May Treasury has no borrowing power, is projected to run out of cash in September and a clearly worried if not outright scared Mnuchin had to humbly ask Congress to raise the debt ceiling and restore his power to borrow.</p><p></p><p>Kinda nice to take that arrogant expletive deleted's own words and make him eat em .</p></blockquote><p></p>
[QUOTE="bacha29, post: 4128641, member: 58386"] Kudlow ( an admitted recovering alcoholic) is out there leading the 4% annual GDP growth parade and 4% for many years to come is a claim being disputed by the Federal Reserve which is projecting a far more sensible 2%. Trouble is in order for the revenue losses from the tax cut to be offset a 4% GDP growth every year is required which will never happen. Right now the deficit for the current year is running 23% higher than last year but with borrowing limits having kicked in this past May Treasury has no borrowing power, is projected to run out of cash in September and a clearly worried if not outright scared Mnuchin had to humbly ask Congress to raise the debt ceiling and restore his power to borrow. Kinda nice to take that arrogant expletive deleted's own words and make him eat em . [/QUOTE]
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