The US Is Spiraling Down the Doom-Loop Drain Hole Rapidly Now

Citizen Watch Report ^ | David Haggith

[davikkm]

We just passed a level of debt-service costs scarcely before even imagined.

First, we hit a level of debt years ago that seemed astonishing at the time when the national debt topped one-trillion dollars for the first time in over 200 years of being a nation. Recently, we hit the insane level where just the deficit that adds to the debt each year hit one-trillion dollars a year. We, then, soared almost immediately right past that to where we had a trillion-dollar deficit more than twice a year. And now, today, we finally hit the outer limits where just the annual interest on the debt is a trillion dollars.

If anyone thinks we are not caught in a debt doom loop, consider this: we can only pay that interest by taking out more debt just for debt service. So, we’re forced to take out a trillion in new debt each year just to cover the interest on the old debt, and that amount is growing quickly. We’re swirling around the center of the drain so rapidly now that we’re seeing a trillion dollars in additional debt fly by with each revolution and making the revolutions multiple times per year.

[mjp]

how to escape the "debt doom loop"

[hecticskeptic]

Are there any gold bars left there?

[T.B. Yoits]

Congress is not the problem here. American voters are.

Until each and every ballot has "None of the above." as an option, the American voter is picking one of two Uniparty stooges.

"By means of ever more effective methods of mind-manipulation, the democracies will change their nature; the quaint old forms - elections, parliaments, Supreme Courts and all the rest - will remain. The underlying substance will be a new kind of totalitarianism. All the traditional names, all the hallowed slogans will remain exactly what they were in the good old days. Democracy and freedom will be the the theme of every broadcast and editorial. Meanwhile the ruling oligarchy and its highly trained elite of soldiers, policemen, thought-manufacturers and mind-manipulators will quietly run the show as they see fit." - Aldous Huxley

[TheWriterTX]

Total Credit Market Debt Outstanding = all debt, private and governmental.

[Alberta's Child]

Until each and every ballot has "None of the above." as an option, the American voter is picking one of two Uniparty stooges.

It wouldn't matter. With the exception of maybe 10%-15% of the electorate, the American voter will always pick Santa Claus.