2024

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/peter-thiel-warns-of-imminent-u-s-recession-due-to-unsustainable-government-spending/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Peter Thiel Warns of Imminent U.S. Recession Due to Unsustainable Government Spending</a><br></p>
<p style="text-align: justify">Technology billionaire Peter Thiel has indicated that the U.S. economy is on the verge of entering a recession, attributing its temporary stability to substantial government spending. Speaking at the All-In Summit in 2024 alongside billionaire Chamath Palihapitiya, Thiel noted that while a recession is approaching, government expenditures have delayed it. He argues that this stimulus spending is unsustainable, financed by what he describes as “crazy” budget deficits.</p>
<h2 id="government-spending-and-budget-deficits">Government Spending and Budget Deficits</h2>
<p style="text-align: justify">Thiel believes that the current high levels of government spending are merely masking the underlying economic issues. He pointed out that in May 2023, the projected budget deficit for the fiscal year 2024 was estimated at $1.5 to $1.6 trillion, with expectations that the deficit could be around $400 billion higher than anticipated. He expressed concern that if such a large deficit were not added at the peak of the economic cycle, the situation would likely be much more difficult.</p>
<h2 id="increasing-national-debt-and-economic-risks">Increasing National Debt and Economic Risks</h2>
<p style="text-align: justify">According to the Congressional Budget Office, the U.S. government recorded a budget deficit of $1.9 trillion in the first 11 months of the fiscal year 2024, which represents an increase of $373 billion compared to the same period last year. Additionally, data from the Treasury Department reveal that the national debt has reached an all-time high of $35.273 trillion.</p>
<p style="text-align: justify">Thiel argues that rising government expenditures artificially support economic growth but are not sustainable in the long run. He emphasizes that the increasing debt burden and lack of sustainable growth pose threats to the economy. Economists and investors are warning that the growing budget deficit and national debt could have significant implications for the future of the U.S. economy. It is critical for the government to reassess its fiscal policies to enable sustainable economic growth.</p>
<p>The post <a href="https://en.coin-turk.com/peter-thiel-warns-of-imminent-u-s-recession-due-to-unsustainable-government-spending/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Peter Thiel Warns of Imminent U.S. Recession Due to Unsustainable Government Spending</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Peter Thiel Warns of Imminent U.S. Recession Due to Unsustainable Government Spending

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