Schaftlein Report | Gross Domestic Production Slows to 1.1%

1) Growth slowed from 2.6% in Q-4 2022 to 1.1% in Q-1 2023   1A) Americans are losing faith they will have enough money for retirement   1B) Total debt held by all sources increased 90% since 2009 to $68T.  Someone is bearing losses as interest rates have risen.   2) Republican House passes Raising the Debt Ceiling by $1.5T implementing spending cuts of $4.5T with cap on Government Spending of 1% per year. This seems very reasonable.  Senate and Biden say No.   2A) Democratic Governors come out against expanded work requirements for social programs.   3) Polling has DeSantis beating Biden 48-45%, while the same poll shows Biden beating Trump by the same 48-45%   3A) DeSantis appears ready to launch campaign in Mid May   3B) Press Conference reveals Biden is given questions from reporters in advance.   3C) Biden 62%, Kennedy 19%, Williamson 9%   4) General Miley says Ukraine can win due to high morale however Russian troop strength is at the same level as when war started, despite losing 170K solders.   4A) Russia will not allow visitors to jailed WSJ reporter.   5) In Minnesota and CA, Democrats are blaming car companies for a huge spike in auto thefts instead of the criminals.   6) 75 year Anniversary of Israel - Jeffrey adds perspective