I've read credible arguments that consumers are totally driving this economy. I can't completely agree, but they are carrying more than their share of the load and Retail supports that. No better measure of Consumer Sentiment BTW.
On a less encouraging note, the Budget Deficit topped 1 trillion for FY '19 as of yesterdays report. Income is far outpacing FY '18 by nearly 400 billion, but spending is out of control. Sep is historically a surplus month. Let's hope for a big one to close out the year on a slightly better note.
Thanks for sharing this info Tim. You're our go to expert in this realm. I would have never even thought of looking up and posting these key numbers today.
tax cuts are helping, but they also should have cut spending.
I'd have been happy if they had just kept spending at the same levels. Even if they had increased spending at the rate of inflation, we'd have seen a reduction in the deficit. But they blew it outta the water, and at the risk of going NTR, with a dem controlled congress setting up FY '20, I don't expect an improvement.
remember, debt and deficits have usually gone up more with a pub prez, less with a dem prez. under bush jr, when the pubs controlled the WH, and both chambers of congress, pork barrel spending grew much faster, than any other time in recent memory.
always remember, fiscal irresponsibility is bi-partisan.
Bush 2 messed up. Early on, he had the chance to reduce the deficit.