Posted on 01/28/2023 8:41:22 AM PST by Kaiser8408a
I was interviewed by James Rosen at Fox News on the exploding US debt and whether it is a problem. I said “Yes, the sheer size of the US debt load in unsustainable and will get worse if interest rates rise.” Well, here we are!
The US paid $853 billion in interest for the $31 trillion in debt in 2022.
That is more than the US Defense budget in 2023.
If the Fed keeps rates at at these levels (or higher), the US we will be at $1.2 trillion to $1.5 trillion in interest paid on the debt.
The US govt collects about $4.9 trillion in taxes.
Thanks for this, Biden, Pelosi, Schumer! Aka, The Spend Squad!
(Excerpt) Read more at confoundedinterest.net ...
A 1% rise in the interest rate equals $320 billion more in interest payments.
We’re in deep kimchi.
Nothing compared to underfunded liabilities!
“The interest paid on these securities is remitted to the government.”
The interest on the other $25 trillion is not.
And that’s BEFORE the reparations. LOL.
It's owned by the US government. Audited every year.
Tax receipts were $4.2 Trillion in 2022.
So about 20% of taxes goes to Pay the interest.
This was the goal of the left: To get the U.S. to dig its own grave so deep it’s impossible to climb out of.
Except they will save it by confiscating all wealth and making everyone equally miserable. And that’s not even mentioning the re-education (death) camps for “reactionaries”. These are the same people who secretly admire Mao and Pol Pot. Except it will all come out into the open.
Hey! The Fed troll is back. Welcome back!
Whoever came up with MMT should be quartered
If the Fed was privately owned they wouldn’t be turning over their earnings to the US Treasury. The Fed is a creation of Congress despite what the conspiracy comics tell you
The old free USA is never coming back. We need to think in terms of managing the break up with a minimum of bloodshed. Or just try to take care of our own while it burns.
Biden and Congress spending the US into bankruptcy.
———-
Meanwhile, Russia with its vast reserves of just about everything, is filling its coffers with billions…..it doesn’t take a genius to see what is happening, rule one: when found to be digging a deep hole, stop, stop giving billions to a corrupted welfare nation.
Just WIPE the debt and be done with it!
Baloney. If the Federal reserve collected the interest from the US Government on the national debt, and then handed it all right back to the government... they wouldn’t collect it in the first place. That’s like going to McDonalds, buying a burger, and them handing you back the money you paid.
The Fed currently holds about $5.435 trillion in Treasuries. The interest paid on these securities is remitted to the government.
^^^^^^^^^^^^^^^^^
so the US gummit gets that $853 billion
The Fed is a creation of Congress despite what the conspiracy comics tell you.
*************
Yes, it was a creation of Congress.
Also, if we get rid of the central bank, the independent treasury system or whatever they would call it, would function in much the same way as the central bank did.
Heres
Take a macroeconomics course sometime.
Wake up some time. Read some Rand Paul and Ron Paul.
Glad I could help.
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