Worry About the Federal Deficit is the title of an article William Silber posted on LinkedIn several weeks ago. In it, the retired finance professor distills a lifetime of research and experience into a warning about the fiscal state of the U.S. government.
The Federal government is spending a lot more than it receives in taxes, so it is running a deficit that is financed by borrowing in the bond market. The size of the deficit relative to total domestic production (GDP), a rough measure of our ability to pay for our indebtedness, is about 6% in 2023. That percent has been
