The U.S. recorded a $100.5 billion budget deficit in October, an increase of about 60 percent from a year earlier.
According to Bloomberg, the deficit widened from $63.2 billion in the same month last year.
The Big Factor:
Spending grew twice as fast as revenue.
It is only likely to get worse as interest rates continue to climb.
The big question now becomes: When will the Federal Reserve start monetizing the new debt, which will send price inflation soaring?
Hug your gold coins tonight.
-RW
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