The Make-or-Break Fork in the Road Ahead

July 03, 2023

by Charles Hugh Smith Of Two Minds

We either make the future or break the future, so choose wisely.

There is a make-or-break financial fork in the road ahead for the United States: there are only three options:

1. Slash trillions of dollars in annual federal spending to align with current tax revenues.

2. Raise trillions in additional tax revenue from the only entities able to pay more, corporations and the top 5%

3. Monetize the soaring federal debt by the central bank “printing money” and using this new money to buy Treasury bonds, as issuing new Treasury bonds for sale is the way the federal government funds its stupendous deficit spending.