"A strict observance of the written laws is doubtless one of the high duties of a good citizen, but it is not the highest. The laws of necessity, of self-preservation, of saving our country when in danger, are of a higher obligation…To lose our country by a scrupulous adherence to written law would be to lose the law itself, with life, liberty, property and all those who are enjoying them with us; thus, absurdly sacrificing the ends to the means." -- Thomas Jefferson

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The Congressional Budget Office (CBO) has recently updated its projections for the U.S. government’s budget deficit. Here are the key points: Fiscal Year 2024 Deficit: The projected deficit for fiscal year 2024 is $1.9 trillion. Adjusted to exclude certain payment timing effects, the deficit amounts to $2.0 trillion in 2024. Deficit Trend: The deficit is expected to grow over the next decade. By 2034, it is projected to reach $2.8 trillion, equivalent to 6.9% of GDP. This cumulative deficit over the 2025-2034 period would total a staggering $22.1 trillion.
In a recent shocking move, the Texas-based U.S. Logistics Solutions (USLS), owned by Ten Oaks Group, abruptly ceased operations, leaving over 2,000 employees jobless. The closure affected 500 truck drivers, 732 power units, and resulted in the shuttering of 19 terminals, primarily on the East Coast. Former USLS President Eric Culberson expressed devastation and heartbreak due to the abrupt decision by the private ownership group. 
The burden of debt on American households has reached staggering levels. As of 2024, U.S. households carry a colossal debt load of 17 trillion dollars. This debt bubble continues to expand, fueled by factors such as rising interest rates and inflation.
(RTTNews) - A report released by the Conference Board on Friday showed its reading on leading U.S. economic indicators fell by more than expected in the month of May. The Conference Board said its leading economic index decreased by 0.5 percent in May following a 0.6 percent decline in April. Economist had expected the index to dip by 0.3 percent.
Let’s dive into the world of commercial real estate (CRE) loans and their current situation. CRE Loan Maturities in 2024: A Ballooning Challenge The portion of the $4.7 trillion in US commercial real estate debt that will come due this year has ballooned from $659 billion to $929 billion. These loans must be paid off through a sale, refinanced, or extended to avoid default. Many loans that were supposed to mature in 2023 were not paid off.