The Kobeissi Letter: The US fiscal situation is much worse than that of other major economies: The US federal...

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The US fiscal situation is much worse than that of other major economies:

The US federal budget deficit stands at -6.0% of GDP, the largest among all G7 nations.

The budget gap is also more than TWICE as big as the G7 average of -3.0%.

By comparison, France and the UK are running deficits at -5.0% of GDP.

By 2028, the US deficit is expected to widen to -7.5% of GDP, near the highest since 2021.

At the same time, Italy and Canada are projected to run deficits at -2.0% of GDP over the same period.

The UK, France, Germany, and Japan are all expected to hold deficits below -5.0%.

The US is on an unsustainable fiscal path.
(@TheKobeissiLetter)

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