The Congressional Budget Office just updated its forecast—and the bottom line is that our fiscal position is deteriorating.

The last report increased its debt forecast by 1.4 trillion and this one just added another increase…3.1 trillion. CBO is forecasting average annual deficits of $2 trillion dollars.

What they are not forecasting is a recession, which if it does occur would certainly worsen the debt picture.

Biden’s fiscal policies are a direct assault on the young.

Every time you read about a new spending initiative out of Washington, imagine the political class pointing at millennials and Gen Z and saying, “Put in on their tab.”

America is highly resilient, but we are not utterly immune to the sort of debt crises we saw hitting Europe ten years ago or emerging markets in the 1990s. We like to think debt doesn't matter, right up until the moment when it is the only thing which matters.