Six-Chart (Psy-Op) Sunday
6 Infographics from the week + 1 interview (Chris Miller on “Chip War”)
Boomers’ Budgetary Bequest: Starting in 2024 and for the foreseeable future, America will spend more on interest from past borrowing than national defense.
If you’re interested in this topic, register to join our live discussion with CBO Director Phillip Swagel on Feb. 22 at 11am (ET).
CEO Confidence Rising: For the first time in two years, CEO optimism about the U.S. economy outweighs pessimism.
Congressing is Hard: With 34 public laws enacted in 2023 + 3 so far in 2024, the 118th Congress is tracking to be the least legislatively-productive in decades. (The “Do Nothing Congress” Truman ran against enacted 906).
Voting Rights & Integrity: Large majorities of both Republicans & Democrats favor Voter ID laws and making Election Day a national holiday.
5. Trump Strengthening in Rematch: New NBC poll shows Trump improving head-to-head against Biden across all tracked issues & candidate qualities.
The Truth is Out There: Aliens seem to prefer the American West (data via National UFO Reporting Center & U.S. Census Bureau; map via Axios’ Erin Davis).
VIDEO
New Cold War: Our interview with professor Chris Miller on the battle for the commanding heights of the 21st century economy (semiconductors).
The deficit chart is screaming at us, but we continue to ignore it. In a few years, the U.S. government will be unable to do anything except manage some programs for the elderly, provide for the common defense, and pay interest on the debt. And in the years ahead, even defense will be crowded out until we are unable to defend our country. It is hard to be a free people when we are enslaving ourselves to debt.
Consciously or sub-consciously most people are aware of the looming issue with the national debt and its inevitable impact. The scale of that debt is what is driving people towards the gloomy view that for the first time the economic welfare of their children will decline rather than improve from their own. Add to that a growing distrust for whatever the government 'experts' proclaims the data to say. The result is that no matter what the economic reporting claims, most people do not feel this to be a robust, growing and thriving economy. Perhaps a last gasp but nothing sustainable or healthy to rely upon.