Fiscal reality check

The US deficit has gotten so large that jump in 2008 barely makes a dent in this chart.

In 2020 alone, the US deficit was nearly $5.5 TRILLION, roughly 315% of the deficit in 2008.

To put things in perspective, US government spending increased 14% over the last year while tax… pic.twitter.com/LxnUIxVZUX

— The Kobeissi Letter (@KobeissiLetter) August 18, 2023