CandleFocus Billionaire Peter Thiel Warns US Close to Recession, Says Economy Would Be Shaky if Not for Crazy Budget Deficit
2024-09-16
Author: Content Editor
Tech billionaire Peter Thiel warns that the US economy is on the brink of a recession and is only being propped up by massive government spending. Thiel argues that the current government stimulus is unsustainable due to the large budget deficits it is creating. Data from the Congressional Budget Office shows a $1.9 trillion budget deficit for the first 11 months of the 2024 fiscal year, while the US national debt has reached a historic high of $35.273 trillion. Thiel believes that the economy is relying too heavily on debt and lacks sustainable growth.
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