#13 - The Rasputin Effect - Guest: Michael Cembalest, J.P. Morgan
Macro Mondays
00:00
Projection of US tax revenue being consumed by entitlements and interest, and the state of the global economy
This chapter explores the projection that by 2032 or 2033, 100% of US tax revenue will be consumed by entitlements and interest, leaving no money for non-defense discretionary or defense spending. The speaker also discusses the concerns raised by the Committee for Responsible Federal Budget and briefly touches on Germany's industrial risks and Europe's energy consumption.
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