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Senate Passes Default Bill, WRCR Market Analyst Says Spending is Unsustainable

June 2, 2023 by Jeff Lewis

The Senate late yesterday approved a plan to avoid default, and likely global economic chaos. The vote sailed through the Senate with bipartisan support, 63 to 36, extending the nation’s $31.4 trillion debt limit through January first of 2025. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge says the spending that comes with the bill is unsustainable…

The bill now heads to the president’s desk for his signature. The Associated Press reported the president said he would sign the bill as soon as possible.

Filed Under: News

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