While the stock market’s red-hot gains of nine percent thus far in 2024 have--remarkably--exceeded the pace of the historic market performance of 2023, there are clouds on the economic horizon. Most notably, the government continues to increase its debt by trillions of dollars a year despite the economy being at full employment. Last week’s passage of a $1.2 trillion spending bill suggests that Congress remains unconcerned about the nation’s growing debt.
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