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Hoisington Management Quarterly Review and Outlook, 3Q 2016

Thursday, October 27, 2016 6:26
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mauldineconomics.com / JOHN MAULDIN / OCTOBER 26, 2016

By now, you are probably aware that the US budget deficit jumped to $590 billion for fiscal 2016. What you might not be aware of is that US government debt rose by $1.4 trillion last fiscal year. That difference between the deficit and debt increases is an enormous number, and I bet you’re just as curious as I was to know what in the heck we spent that additional $800 billion on.

In this week’s Outside the Box, my friends Dr. Lacy Hunt and Van Hoisington actually tell us the answer to that one, while noting that the increase in debt has exceeded deficit growth in 27 of the last 30 years, and the trend is now for larger “off-budget,” debt-swelling items each year.

Cutting to the chase, using current CBO projections and the trend in off-budget debt, Lacy and Van estimate that US government debt could grow by an additional $13 trillion in the next 10 years (by 2025). That would put total debt at $33 trillion and pushing 150% debt-to-GDP.

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The post Hoisington Management Quarterly Review and Outlook, 3Q 2016 appeared first on Silver For The People.

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