Off-balance-sheet liabilities define current U.S. economic structure, Vinny Lingham notes

Off-balance-sheet liabilities define current U.S. economic structure, Vinny Lingham notes
U.S. deficit spending and liabilities rise

Vinny Lingham, co-founder, chairman and CEO at Civic, examines the U.S. economy by considering the impact of Congressional reluctance to cut entitlement programs.

He describes an environment where the U.S. is functioning with significant off-balance-sheet liabilities and continues deficit spending by increasing the money supply, with defense spending noted as a separate issue.

Lingham has previously linked high inflation to the perception of zero default risk in the U.S., urging for greater attention to this correlation in recent commentary. He has also commented on the broader fiscal environment, citing factors such as pressure on U.S. Treasuries that led OpenAI to halt its 2026 IPO plans, as detailed in another article. These assessments frame his view on the risks surrounding continued deficit spending.

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