The relentless growth of U.S. government debt
I was very lucky to attend the Harvard Business School Owner/ Presidents Management program over the three years to 2006. In my class of 100 mature–age students, around half were from the U.S., and the remainder were from several other countries. I know it is a gross generalisation, but it would be fair to say the U.S. students excelled at any “marketing” related case studies but noticeably under-performed in any case studies related to “accounting”.
It is with that backdrop that I thought it worthwhile analysing the data released from the U.S. Treasury, post the release last week for the month of February, and the fiscal year to date being the five months to February 2024. In short, the data, on an annualised basis, is showing a budget deficit of U.S.$2.0 trillion (which exceeds 8 per cent of gross domestic product (GDP) of…
