Will the U.S. have the longest economic expansion in history?

It has been about a decade since the United States economy endured the worst recession since the Great Depression. It was a real bloodbath out there.

Thanks to the Federal Reserve, the U.S. economy is expanding, and blowing bubbles all over the place. Stock markets are hitting record highs, the housing market is returning to its pre-2007 self, and easy money is flowing to every aspect of the economy.

So, will the U.S. have the longest economic expansion in the nation’s history?

Well, the Treasury Department released a new report on Monday and found that because of the Republicans’ Tax Cut and Jobs Act plan, a recession may not happen until 2027.

Wow!

Here is what the Steven Mnuchin-led Treasury states:

“Treasury expects approximately half of this 0.7% increase in growth to come from changes to corporate taxation, while the other half is expected to come from changes to pass-through taxation and individual tax reform, as well as from a combination of regulatory reform, infrastructure development, and welfare reform as proposed in the Administration’s Fiscal Year 2018 budget.”

Unfortunately, by the time the recession arrives, the national debt will top at least $35 trillion with $1 trillion annual debt servicing payments. Don’t forget about the inflation.