Beyond words
For anyone who has run a Small Business or even your day to day household finances what we are witnessing in the US Federal Govt is a massive version of cutting back on the discretionary expenses before the creditors come knocking.
When you can have just a handful of employees or family members it is easier to analyze and make the cuts but on a scale like what we are seeing it is monumental but gloriously welcome.
I recognize that these cuts and changes will come as a shock to those affected but needs to be done.
This is exactly what needed to be accomplished to Reset and start afresh. Never thought I would live to see this.
What they’ve done is generating some nice headlines, in the cuts and the deportations. But in neither case is it more than a drop in the bucket, SO FAR.
As Homan indicated, they need to ramp up.
On the budget, discretionary is small relative to mandated outlays.
Its pretty intractable at this point. Anything impactful would result in riots.
BOC ANNOUNCES AN END OF QUANTITATIVE TIGHTENING, AND WILL GRADUALLY RESTART ASSET PURCHASES IN EARLY MARCH.