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Surging deficit, soaring interest rates pose disaster; US faces potential $1.44 trillion unsustainable expense.
Citizen Watch Report ^

Posted on 12/13/2023 6:00:11 AM PST by davikkm

As federal budget projections unveil a distressing trend, $1 trillion+ US budget deficits are solidifying their status as the new normal, stretching through 2033 and beyond. The grim reality suggests that witnessing a year with a deficit below $1 trillion may be an elusive prospect.

In a disconcerting revelation, the US Treasury anticipates borrowing an additional $816 billion in Q1 2024 alone, with a significant portion allocated to deficit spending. The trajectory of deficit spending, as predicted by the Council on Foreign Relations, has propelled the US to allocate more funds to gross interest payments than to defense, painting a concerning fiscal picture.

(Excerpt) Read more at citizenwatchreport.com ...


TOPICS: Government
KEYWORDS: deficit

1 posted on 12/13/2023 6:00:11 AM PST by davikkm
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To: davikkm
Looks like BidenDepression 2023 will be arriving in 2024

Death by 1,000 cuts - ever since Barack Hussein Obama

For any liberal / Democrat acquaintances:




2 posted on 12/13/2023 6:05:27 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: davikkm

Clearly unforeseen by the wizards of Washington.


3 posted on 12/13/2023 6:05:53 AM PST by whistleduck
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To: whistleduck
Clearly unforeseen by the wizards of Washington.

They just know they will be long gone from any potential for accountability when the SHTF with their bags of money on a Florida golf course.

4 posted on 12/13/2023 6:07:36 AM PST by 1Old Pro
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To: SaveFerris
Don’t blame Obama for this. You can put he blame for this mess squarely on the GOP for its feckless and irresponsible approach to fiscal management during the George W. Bush administration.

But let’s be really honest here … the real culprits are Americans who think they have a God-given right to enjoy a standard of living they can’t afford. The only way that works is by forcing others to pay their bills, and when the “others” are the taxpayers then it’s inevitable for the government to collapse in bankruptcy.

5 posted on 12/13/2023 6:13:44 AM PST by Alberta's Child (If something in government doesn’t make sense, you can be sure it makes dollars.)
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To: Alberta's Child

Oh, he totally deserves blame.

But yes, the real fall started under George W. Bush while he was nation-building. Did a few things right after 9/11 but created a mess in many ways.


6 posted on 12/13/2023 6:15:36 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: davikkm

This climate change crap is hurting our economy...and they just don’t care...it’s all about control. Why would I want to spend 25% of my income on a damn car...or eat rabbit food instead of meat??


7 posted on 12/13/2023 6:50:55 AM PST by Sacajaweau ( )
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To: SaveFerris

How did we end up saying “it’s concerning” every time something comes up that needs our attention? For years we got along just fine not using “concern” in that fashion. What the hell has changed? Why is the English language being spliced into Turkish taffy every five goddamned minutes? The latest one is the noun “Illegrant”. The same people who refuse to use their brakes when driving because slowing down and then resuming speed “wastes” costly gasoline. Has anyone noticed that one? But it’s okay to run down a pedestrian. All of a sudden everybody and their room-temperature IQ mother is a freakin’ wordsmith. I don’t think so. I just ripped a customer service rep on the phone for saying “purrrrrrfect” after each time I answered one of her questions. I told her nothing on this earth is perfect so why do you keep repeating that word? She said she didn’t know why! (Morning rant over.)


8 posted on 12/13/2023 6:51:15 AM PST by 4Runner
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To: 4Runner

[concerning]

Sounds like a good question for the article’s author


9 posted on 12/13/2023 7:20:34 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: SaveFerris

And we haven’t stopped nation building. It’s as American as apple pie at this point.

The USA has a reckoning coming. Well deserved I might add.


10 posted on 12/13/2023 8:43:02 AM PST by Rural_Michigan
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To: Rural_Michigan

I didn’t think so at the time......but it seems the judgment began in 2001

Then, 7 years later, we got the Manchurian Candidate

NOW we have his hand-puppet....

sigh


11 posted on 12/13/2023 8:51:43 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: davikkm

Gee, if only there was a political movement centered around fiscal responsibility or something. I say “movement” rather than “party” because the GOP spends like drunken sailors too. Really the only difference between the parties on fiscal policy is the Democrats raise taxes to pay for their spending and the Republicans just borrow money from China.


12 posted on 12/13/2023 9:15:01 AM PST by FormerFRLurker ("Those who can make you believe absurdities can make you commit atrocities"-Voltaire)
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