Watching the debates last night you notice one thing in that they left out the elephant in the room, the national debt. Mentions of the national debt during the debate between Presidential candidates Kamala Harris and Donald Trump. Let’s analyze the debt for the Presidential candidates and make some projections based on what makes up GDP, consumer spending (70%) and what will drive the economy moving forward that makes the national debt such a non-issue for the soon to be leader of our nation.
When you try to Google Which President was a bigger spender, Trump/Pence or Biden/Harris, you get various opinions. You even get the U.S. government debunking the Committee for a Responsible Federal Budget (CRFB) report entitled “Trump and Biden: The National Debt” which came to the conclusion Biden/Harris were the bigger spenders.
Since I am a numbers guy, let’s just look at the National Debt increase under each Presidents term and declare a loser once and for all. Keep in mind, the Covid pandemic was occurring during this time.
Bankruptcy filings in the United States have been increasing in recent years, but remain lower than before the COVID-19 pandemic:
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2023
In 2023, the total number of bankruptcies in the United States increased by 18% to 445,186, compared to 378,390 in 2022.
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2024
In the 12-month period ending March 31, 2024, bankruptcy filings increased by 16% to 467,774, compared to 403,273 in the previous year.
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June 2024
In June 2024, bankruptcy filings increased across several categories, including:
- Commercial chapter 11: Increased 70% to 987 filings
- Commercial: Increased 28% to 2,753 filings
- Subchapter V small business elections: Increased 78% to 309 filings
- Individual: Increased 5% to 37,514 filings
- Commercial chapter 11: Increased 70% to 987 filings
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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