On January 17, the Congressional Budget Office (CBO) released its latest Budget and Economic Outlook and Update. It attracted little attention in a media environment flooded with stories about then-incoming President Trump, but it should have been one of the big stories of the year. The CBO takes stock of the incoming administration’s fiscal inheritance, and it is a grim one.
“[T]the federal budget deficit in fiscal year 2025 is $1.9 trillion,” the CBO notes, or “6.2 percent of gross domestic product (GDP).” This comes after a deficit of 6.6 percent of GDP for 2024 and is a staggering number for an economy which is, we are told, booming.
If we go back to World War Two, the only years when the Federal budget deficit has been higher as a share of GDP are the recession and slow recovery years 2009-2012 and the pandemic years of 2020 and 2021. What is worse is that, despite all the “Building Back Better” of the last few years, the Federal budget deficit has actually risen from 5.3 percent of GDP in 2022. Perhaps this vast infusion of borrowed money is why the economy is supposedly “booming.” If so, this sugar rush is not sustainable.
Looking ahead, the numbers do not improve. The deficit is forecast to hit 6.1 percent of GDP in 2035.
The result of these large, persistent, and growing deficits is a large and rapid increase in Federal government debt. “From 2025 to 2035,” the CBO writes:
…debt swells as increases in mandatory spending and interest costs outpace growth in revenues. Federal debt held by the public rises from 100 percent of GDP this year to 118 percent in 2035, surpassing its previous high of 106 percent of GDP in 1946. […]
— Read More: thedailyeconomy.org
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
