Since 1950, the U.S. has experienced 11 recessions—roughly one every seven years; the last one ended in 2020. By historical averages, another could arrive at any time. And unlike every prior downturn in modern American history, the next one will find the U.S. Treasury with less room to maneuver than it has ever had.
Bob’s world stacked five times
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^ See, e.g., Cecarelli v. Maher, 12 Conn. Supp. 240, 240 (C.P. 1943).