Though many financial pundits make the argument that the U.S. economy is booming as a result of millions of new jobs, a healthy housing market and record stock market levels, former Reagan budget director David Stockman says that the next few months will see fiscal, financial and economic upheaval.
In a recent interview with Greg Hunter’s USA Watchdog, Stockman argues that President Trump’s stimulus packages will be ground to a halt as the U.S. debt ceiling is once again breached in March. The resulting uncertainty could lead to widespread panic on Wall Street.
The trigger, says Stockman, will be a debt ceiling crisis on or around March 15, 2017, which incidentally, just happens to be the same day that the Federal Reserve is supposed to hike interest rates:
In a typical month we have 250 to 300 billion in revenue coming in… that will easily cover the debt service…
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