On July 20th, the CBO published, “The Long-Term Budget Outlook Under Alternative Scenarios for the Economy and the Budget”. How bad will our deficits and national debt get? We have no idea.

Stephanie Kelton's book, The Deficit Myth, challenges the belief that deficits matter, arguing that as a sovereign nation, we will never run out of money. However, the current state of the US economy, with low potential GDP and tight labor markets, suggests that deficits do matter, and measures need to be taken to reduce them and balance monetary policy.

20% of GDP growth in Q1’23 came from manufacturing construction, a subsector of the economy that normally accounts for only 1% of GDP. But there will be negative unintended consequences to so much government directed investment in the long-term.

Tim and Drew go over the outlook of oil and gas markets. For more from Tim Pierotti, WealthVest's Chief Investment Strategist subscribe to our podcast WealthVest: The Weekly Bull and Bear at https://shows.acast.com/the-weekly-bull-and-bear or wherever you listen to your podcasts.