EVERYTHING IS GOING SWIMMINGLY: Credit card and car loan defaults hit 10-year high as inflation squeezes families.

Here’s the official spin, courtesy (as always) of the Washington Post: “The federal deficit is projected to roughly double this year, as bigger interest payments and lower tax receipts widen the nation’s spending imbalance despite robust overall economic growth.” [Emphasis added.]

Biden’s deficit spending is the growth. Unlike genuine economic growth, Bidenomics is going to leave us with a multitrillion-dollar hangover and a nasty correction when either the spending runs out or the inflation really kicks in.