housands of economists and policy experts in the US currently debate how to keep Social Security and Medicare solvent, and more broadly how to keep down the cost of healthcare (which is mostly consumed by those over 70 and especially those with terminal illnesses such as cancer). The situation for these programs is likely to be radically improved... See more

US fiscal deficits will remain structurally large for the foreseeable future (i.e. for any investment time horizon of relevance, such as the next decade).

I outlined six reasons for this in my September 2024 newsletter, and they were the following:

1. Unbalanced Social Security


2. High healthcare costs


3. High defense spending


4. High interest expense


5. Political

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