Total US debt is now $33.442 trillion, hit $33 trillion just 2 weeks ago, and on pace to rise by $1 trillion in 1 month.
WTF is going on
Posted on 10/06/2023 8:15:07 AM PDT by Jan_Sobieski
If you are going to go out, you might as well do it with a bang. At the beginning of June, our national debt was sitting at $31,467,639,287,894.39. Today, it has risen to $33,442,148,619,617.43. That means that we have added almost two trillion dollars to the national debt in just three months.
It is the largest single debt in the entire history of our planet, and it will never be paid off. Our debt spiral has reached a terminal phase, and all we can do now is prolong the agony.
If we keep taking on more debt at an exponential rate, we may be able to extend our seemingly endless party for a little while longer. As for the bright future that our children and grandchildren were supposed to have, we destroyed that a long time ago, and so it doesn't really matter what we do now.
What our politicians are doing to us is truly a crime against humanity.
And I am not just talking about the United States. All over the world, politicians have been on the greatest debt binge in the history of the human race, and for quite a few years it seemed like they were getting away with it.
But now interest rates are rising and there is great turmoil in the bond markets. The following comes from CNN...
(Excerpt) Read more at prophecynewswatch.com ...
In trying to figure out the reasons, I’ve come to suspect IRS welfare handouts are significant.
So here is something to think about with a out of control debt.
Where will the Banks and Uniparty get the money?
Well, they already have a plan. They passed laws under Obama that allowed them to sieze your assets, stocks/bank accounts, retirements, in case of national emergency.
Look for Governments around the world to stop buying US Treasury Bills....................We will be Zimbabwe.........
Source please. Thanks in advance.
I remember this, and a while back I tried to find the articles describing their new Bail in Law, but couldn’t?? I don’t think they want us to remember what they planned
Of course we’re going to have a reset. Were going to QFS.
Imagine a US dollar backed by hard assets like gold.
Imagine a Constitutional Amendment stating that the US government cannot borrow money and cannot run a deficit. We never borrow. We never pay interest. We never have debt. We can print currency when we need to, but we don’t “owe” anyone when we do.
That would make our economy unstoppable.
But the central bankers like things the way they are.
Total US debt is now $33.442 trillion, hit $33 trillion just 2 weeks ago, and on pace to rise by $1 trillion in 1 month.
WTF is going on
“The uniparty plan to keep the beast going seems to be more viruses, vaccines, and war”
The uniparty plan is inflation and theft. Effectively we’ve had a 25% devaluation of the dollar through inflation during the past 3 years. Expect more of the same. In addition the Trump tax cuts expire in 2025 so personal tax rates will increase.
In addition the estate tax exemption will be cut in half in 2026. If the vaccines have truly weakened the immune systems of the elderly, death in that population segment will be accelerating into higher taxation of estates. Early death of the elderly also reduces spending on social security and medicare.
Neither political party has any appetite to cut spending of any kind.
> They passed laws under Obama that allowed them to seize your assets, stocks/bank accounts, retirements, in case of national emergency. <
I’ve haven’t heard that one. But there has been some talk of the Feds forcibly converting all retirement assets into long-term government bonds that pay 1%. It wouldn’t be outright theft, as you’re not losing any money.
I’m guessing that talk will stay just that, talk. More likely Congress will just print its way out of trouble. This will, of course, cause hyperinflation. But since when did Congress look ahead?
For those aged 18 to 29, the delinquency rate just crossed an alarming 9.0%, up from ~5%.
Delinquency rates for those aged 30 to 39 are rising faster than any other age group, now at 7.5%.
Higher rates and more credit card debt are hurting millennials.
The same group of people who are looking to buy their first home in the least affordable housing market in history.
Can the Fed really achieve a soft landing?
From @KobeissiLetter on X
Do you have a source for that, preferably the actual laws that were passed by Congress and signed by Obama?
There is a book that is a compendium of government bankruptcies and currency crises going back some 700 years by economists Ken Rogoff and Carmen Reinhart with the wry title, “This Time is Different.” It almost never is.
The number of people on FR that fail to see this just boggles my mind. Send more billions to Ukraine.
But we have to continue to fund forever wars, housing/feeding/medical care for illegals, gender studies programs, sex changes for prisoners, and 23,000 new IRS agents (along with their firearms and ammo).
If the intetest rate on our National Debt reaches 8.3%, it takes 100% of our General Fund Revenue just to pay the interest on our debt with nothing left to pay sny other bills.
We are far beyond bankrupt.
We soon will be at a point where we can’t even raise taxes enough to pay the interest on thw debt.
This will collapse the Social Security system too as all the Social Security Trust Funds have been loaned to the General Fund and spent
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