Posted on 03/31/2024 9:52:56 AM PDT by Kaiser8408a
Happy Easter! I mean Happy TRADITIONAL Easter, not a Biden weird trans celebration.
Biden and Congress (Schumer, Johnson, McConnell, etc) spend and borrow like its cottage cheese.
After hitting $1 trillion in late 2023, interest expense on US debt rose to a record $1.1 trillion in late March, and ii) while US debt is now rising at a pace of $1 trillion every 3 months, US interest expense is rising at a just as torrid $100 billion every 4 months (this interval will also shrink to three months very soon).
he Biggest Picture: $1.1tn in interest payments on US government debt past 12 months, doubled since COVID (Chart 2); trend in govt spending (up 9% YoY) & debt (up $1.0tn every 100 days)…big motivation for Fed to cut rates to constrain surge in interest costs (“ICC” or Interest Cost Control policy)… bear in bonds (if no recession), steeper yield curve, weaker US$, higher commodities/gold/crypto & TINA for stocks.
Now for the REALLY bad news. Unfunded liabilities (entitlements) have hit $214+ TRILLION. Given how voters hate paying more in taxes, look for the growing entitlements to add AT LEAST $214 trillion in NEW DEBT which will result in record high interest payments.
(Excerpt) Read more at confoundedinterest.net ...
just a healthy part of the cloward/piven plan to bankrupt these United States of America. having great success apparently. just a few million more illegals and another war or two should do the trick. and All made possible by the abject STUPIDITY of a majority of the voting public. but at least with biden there are no mean tweets or remarks about “some very fine people”! remember friends... “elections have consequences and then everyone suffers the consequences”. vote wisely...HAHAHAHAHA!
We are mathematically doomed. No two ways about it.
(We are mathematically doomed. No two ways about it.)
Yes. Unfortunately.
No problem. Just borrow more to pay the interest. Works with my credit cards.
Almost $9 trillion blown on our never ending neocon wars since the war on terror began.
Can US file for bankruptcy and dissolve the debt?
There is no coming back. R’s and D’s hate America. Gen x, y, z are left holding the largest debt bombs in the history of the world and the prior gens can only snicker and laugh at their situations while enjoying their variants of socialism and entitlements.
Don’t worry, everything will be fine, we won’t run out of money, we can just Print all we need when we need it...
Who is John Galt?
Can US file for bankruptcy and dissolve the debt?
——
There was talk during Trumps presidency of renegotiation of our debt ( most is payable to the Federal Reserve) with the Federal Reserve. It is doable in theory, but it is a default and the USD would crater and the trillions of dollars they raise in government bonds go “ Kaput”….basically we literally become a Venezuela overnight.
As our interest payments on our debt is set to exceed Social Security payments, $ 1.3 trillion, something will give. When it happens ( “ the Waterfall event”) it will be sudden and without warning.
The financial greats call it “ The Great Reset”, and ALL have agreed that is when the CBDC ( cashless system) will be instated with promises it will be the “ fix” , go digital and you will not lose your SS, Pensions, Medicare, etc….the Sheeple will rush to it , just like the Covid scam.
Yes, we are mathematical doomed. 214 trillion is too much to pay back. But when is the house of cards going to collapse? I don’t think it will, we will go on forever without having to pay a price. It should have already have happened.
I don’t see it ever collapsing.
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