US Deficit Will Be at Least 6 Times Bitcoin Market Cap — Every Year
William Suberg's original article for cointelegraph.com reduced by 78%
The average budget deficit of the United States will "Never" be less than $1 trillion per year in the future - or 4.5% of GDP, worrying data on the fiat economy shows. Compiled by the U.S. Congressional Budget Office and shared by crypto hedge fund manager Travis Kling on Jan.
21, statistics reveal that the annual deficit is set to hit $12.2 trillion for the entire 2020s. "Such deficits would be significantly larger than the 2.9 percent of GDP that deficits averaged over the past 50 years," the CBO itself commented when it released the projections last September. U.S.
average budget deficit 1969-2029. As Cointelegraph reported, the deficit is not the only worrying aspect of U.S. economic policy to surface in numbers in recent months.
Printing fiat to plug deficits "Never ended well". As Saifedean Ammous explains in his book, "The Bitcoin Standard," preventing "Meddling" by governments and central banks would reverse the processes which lead to phenomena such as deficits.
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CN [too long; didn’t read]
Summarised crypto news.