Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Since Janet Yellen’s comments about the US Debt Downgrade are such a joke, I won’t waste any of my remaining precious life and/or Cycle Time on them this morning. I’ll just give you the 2 most basic economic facts:

  1. US Government DEFICIT Spending #accelerated +3.8% year-over-year in Q2
  2. US Government DEBT Issuance of an incremental $1.85 TRILLION was asked for post that ramp in spending

And she wants/needs you to believe that this US Debt Downgrade wasn’t based on any “recent” economic realities? LOL

 CHART OF THE DAY: US Government Deficit Spending Accelerates - wed