On MSNBC’s Morning Joe on Wednesday, August 3rd, we discussed how the recently-passed debt deal lacks any long-term solutions to the deficit and the state of the US economy. The first chart below shows that the deal will not decrease spending as a percentage of the GDP in a meaningful way, nor does it increase revenues. The second and third charts illustrate the decline of the stock market and the falling figures for personal income, industry, and other economic elements, which make the shortfalls of the debt deal even more glaring . Please see below for the charts:
Please see the charts explained in the video below:
