Posted on 09/18/2023 6:28:07 PM PDT by davikkm
The situation surrounding the U.S. federal debt is not only concerning but also increasingly alarming. The federal debt has recently surpassed a staggering $33 trillion, a historic milestone in itself. What's even more worrisome is the rapid pace at which it's been growing. Since June, it has been expanding at an annualized rate of 18.5%.
What makes this situation even more unsettling is that the United States hasn't even experienced a recession yet. The current level of Treasury issuances is truly unprecedented, and this raises questions about the nation's ability to manage its debt responsibly.
For some perspective, consider that since 2001, the U.S. government has consistently spent more money than it generates in revenue. This has resulted in a steady increase in the national debt as a percentage of the GDP:
In 1980, it was 31% of GDP. By 2015, it had climbed to 101%. Today, it stands at a whopping 123%. Since the debt ceiling "crisis," the U.S. has been adding an astonishing $1 trillion in debt every month. In just the past five years, the country has accumulated a total debt increase of $11.5 trillion.
Adding to the concern, the U.S. is on track to spend approximately $1 trillion annually on interest expenses alone. This means that interest payments will soon become the largest expense for the U.S. government.
The question that naturally arises from all of this is: How can this situation possibly end well? The growing federal debt and the increasing burden of interest payments raise significant economic and fiscal challenges that will require careful management and policy decisions to address.
Who cares? We have important things like Uke corruption and climate scam we must finance.
U.S. gdp for 2022 was $25,462.70B
p
We can just rely on our manufacturing base when things get ugly...
Service economy?...
Ep. 24 Argentina’s next president could be Javier Milei. Who is he? We traveled to Buenos Aires to speak with him and find out. pic.twitter.com/4WwTZYoWHs— Tucker Carlson (@TuckerCarlson) September 14, 2023
Ep. 23 Hyperinflation and reckless monetary policy could soon devastate the global economy. We traveled to Argentina, where it’s already happened.
Screw the national debt. Foreign wars are more important for macho image. /S
Obama doubled the debt in just 8 years
Biden keeps on buikding the debt
They want the fiat system to crash
I do too but not because I hate America and genuine capitalism like comrades Barry and Biden do
> Who cares? We have important things like Uke corruption and climate scam we must finance. <
And don’t forget the illegal immigrants. We’ve got to feed them, house them, and clean up after their crimes.
How can this situation possibly end well?
If by now you don’t know the answer you are in for the surprise of your life.
Here’s my unsolicited suggestion.
For every 6 months that a budget deficit continues under any Congress, one member, chosen at random by lottery from a pool of all those who voted for the responsible budget, shall be incarcerated in a federal prison for 6 months. They can continue to ‘serve’ from their prison cell.
The Federal Government now spends more money on Social Security, Medicare, interest on the National Debt, and defense than it collects in taxes. So without cuts to those categories, even if the government totally eliminated all other spending, the budget still wouldn’t balance.
Not just Joe. R’s and D’s hold hands on taking America down to financial ruin. And, yet people still vote for both of those parties for the benefits. Gen x, y, z have the millstone of past liabilities, debts, and past stupid mistakes of the previous generations.
Uniparty, yes
(Dems and R leadership)
In all fairness, don’t forget Trump. He did not veto a single major spending bill. And the federal deficit climbed at roughly the same rate under Trump as it did under Obama. (Biden’s rate is a bit more.)
I guess no one in DC except Rand Paul cares about this at all.
In Trumps case I give him more of a pass.
Congress no longer passes a budget as they are supposed to.
They wait until it gets close to the debt ceiling and Congress dumps out a massive emergency spending continuation bill. All the pressure is on the president. They havent passed an actual budget in at least over a decade. Just big omnibus spending bills at the last minute.
I don’t give Obama or Biden a pass, because Obama and Biden want the country to be destroyed and our fiat system to break down and be replaced with noncashless systems that are totally 100% govt-trackable.
It will end when we lose WW3. May not be ended well, but will end. We will get an entirely new government. Controlled by foreign interests somewhat different than the current cabal. They might just be a bit more obvious…and those of us still alive here will be a lot poorer.
The Disastrous Joe Biden Administration
Who do the US government owe this to?
It’s over. There will be no recovery from this. The US is now terminal. Thanks GOP & Rats.
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