For the first time in history, the national debt exceeds the gross domestic product (“GDP”). This didn’t even occur in 2008 to 2009 during the “Second Great Depression”. National debt is $31.7 trillion while Gross Domestic Product is $25 trillion – national debt is 127% of GDP. Furthermore, US Treasury Revenue is about $4.9 trillion AND we’re spending just about $6.27 trillion with an increasing deficit. US Federal Revenue is only 15% of our national debt. National debt will never get reduced, much less paid back at this rate. Debt service alone on the $31.7 trillion would also seem to indicate that we will never have a balanced US Federal Budget again – ever. We are simply spending ourselves into a market correction. These numbers are alarming and owners are strongly advised to get ahead of any pending market correction.
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