Posted on 10/17/2023 9:03:51 AM PDT by tired&retired
Total Revenue from all sources for the US Government is down $437 Billion to $930 Billion from prior fiscal year ending September 30, 2022.(The Treasury Report contradicts itself on the first page as to the amount of prior year revenue, giving both $4.9 Trillion and $4.1 Trillion total revenue in 2022.)
Total Revenue for the USA for the fiscal year ending September 2023 was $3.97 Trillion based upon the recently released financial statements by the US Treasury.
Of that amount $1.48 Trillion was Social Security and Medicare taxes that are Trust Fund Taxes and not part of the General Fund.
That leaves total General Fund Revenue at $2.49 Trillion for the fiscal year ended September 30, 2023.
****** WARNING ******
$2.49 Trillion Total General Fund Revenue divided by the current National Debt of $33.6 Trillion is 7.4%
That means if interest rates on the National Debt reach 7.4% it takes 100% of our Total General Fund Revenue just to pay the interest on the debt, leaving nothing for defense or any other government spending.
Interest rates on the National Debt in the early 1980's were over 15%.
The USA is ready to crash. We can't raise taxes enough to cover the interest on the debt and spending. This is beyond repair. Beyond bankrupt.
Social Security Trust Funds have all been loaned to the General Fund and spent. In 2022, Social Security had a $21.5 Billion deficit in that benefit payments were more than taxes received. This deficit also had to be covered by the general Fund. (2023 figures have not been released)
Chuck Schumer and Mike Crapo, Lead Republican on the Senate Finance Committee, just took a trip to China, Japan and South Korea where people save money instead of spend it.
There is still plenty of time to spend hundreds of billions more on foreign wars before the collapse.
I had an old lefty economics professor who said, when asked about the national debt “don’t worry about it, we owe it to ourselves”.
Lol.
In the real world it turns out the poor and middle class “we” owe the money to the ultra wealthy and well connected “we”.
Now that the Demented WH pedophile is demanding that friggin’ freeloading “refugeez” be given credit cards and car loans it is about to get worse. These are friggin’ refugeez are not American citizens. When the hell are they scheduled to go the hell home? Refugee status is temporary, not permanent. Time for them to start the hike back home!
Yup—we can also easily afford the care and feeding of tens of millions of additional illegal aliens.
;-)
And I'm sorry to say that a storm of bankruptcy/insolvency is the only way our bloated, woke, politicized government will change - ala the former Soviet Union. They finally collapsed when even the most fervent communist deep-state apparatchik in the capital realized their corrupt system was completely bankrupt. The deep-state in Washington DC is no different
You would never know it by the looks of the stock markets.
Most of them are NOT refugees. They just come here for the freebies.
Our gov't is INFESTED with TREASONOUS saboteurs and because they CHEAT we will NEVER have another Republican president.
I know! Lets start a war with everybody. That will solve the problem.
Monetary collapse here we come.
Yup! The DemocRATS BIG LIE. And the ignorant are eating it up. None of the bass turd meet the definition of “refugee”. Every one of them I’ve seen on TV says they “came here for a better life” to be provided by American Taxpayers.
I have been thinking about the stock market lately and here are my thoughts:
(1) The price/earnings (P/E) ratios are near historic highs which means that by any rational criteria the market is way higher than it should be.
(2) This means that demand for stocks exceeds the supply—so it is worthwhile to figure out what caused the increase in demand.
(3) Part of it is the use of 401(k) and related investment vehicles which in some cases include the features of employer matches (free money to invest) and tax deferrals (free money now, pay many years later).
(4) Another part of it is the use of technology to create very low fee investing with on-line companies like Vanguard. Transaction costs for investing are much lower than they used to be with almost all on-line services. In the old days you had to call your broker and he got paid a fat commission for each transaction.
(5) As more people got wealthy from the stock market the “conventional wisdom” gets strengthened: “Just put your money in the market and watch it grow”.
Imho this is a crazy bubble, trouble trouble trouble—stay away.
The market seems to have it’s own reality.
Because the market is the only place where people are willing to put their money these days.
We saw it coming in 2020
bkmk
But, but, but there’s no recession. It’s the best economy ever.
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