Yes, the GOP and Dems will get a deal done – Government shutdown / political theater notwithstanding – as both parties lack fiscal restraint. Treasury debt will continue to grow. Treasury debt sits at $32.96 Trillion as of September 13th and that number is going much, much higher!

• 2024 and 2025 and beyond will see fiscal deficits. Sure, taxes are likely to rise, but fiscal deficits will not be a remnant of the past. Fiscal deficits will thrive so long as Treasury can issue paper and so long as the Fed will print money to buy it.

• The Dollar is going lower folks. Maybe not in terms of the DXY, but in terms of real purchasing power. The Dollar’s purchasing power will continue to erode as Americans pay the inflation tax – a tax which is not voted upon and which is 100% due to the combination of the Fed’s printing and the U.S.’s lack of fiscal restraint.

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