BALLOONING TRILLION DOLLAR DEFICITS WILL SOON IMPACT ALL AMERICANS (INCLUDING AZ TEACHERS)

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Our FEATURE today focuses on the out of control fiscal deficits that exceed a TRILLION dollars per year for "as long as the eye can see". The numbers have been estimated by the Congressional Budget Office (CBO). They project an annual deficit in the FY ending September 31st of 4% of GDP increasing to 6% by the year 2022. The total Federal debt is now $21 trillion and will certainly exceed $25 trillion by the year 2022. Experts say the CBO does not assume a recession in their estimates "which is highly implausible". A fiscal crisis is looming. One item of expense that impacts every state is the rising cost of Medicaid. 28% of all states spending is on this medical assistance program for the poor. It is the largest expense after elementary and secondary education and it too is out of control. Arizona teachers as well as other states quite possibly have not considered how negatively this will impact their salary and benefit demands. We offer our input. Other topics include: Yo Yo markets forecast a favorable equity market 83% of the time, Oil & gasoline prices surge, 10 year treasuries zero in on 3%, Inverted yields are a dangerous curve, The Mexican peso rallies-a sign of a new NAFTA? , The convoluted,confusing & conflicting market, Comey's bad week, Criminal referrals for the Deep State and Obama's investigation of the Trumpster. "Disclaimer: This commentary is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of this date and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources are believed to be reliable but not guaranteed. Past performance is not indicative of future results. H. L. Quist is an Investment Advisor Representative."

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