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
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
There is a lot of talk around about Great Reset. And Collapse. No one ever defines them.
The Fed created about $9T of the $33T over the course of the last 15 years. It’s still on the Fed balance sheet. The interest paid to those holdings is returned to Treasury and the Fed is in the process of QT — Quantitative Tightening, which is the buying back of those $9T incrementally each month. So the balance sheet total is in decline. This has the effect of reducing money in the economy.
They will end at about $1T. So the $33T will decline about $8T from their QT action over the next few years, plus whatever deficit adds. So expect about flat increase/decrease on the debt over the next 5 yrs.
And yet, the political class keeps getting richer and richer.
Gee, I wonder why we have the system we do? It certainly isn’t because it’s best for the millions living in streets and camps, massed together in tiny apartments and out of their vehicles.
