Posted on 05/04/2020 12:13:10 PM PDT by NRx
The Treasury Department plans to borrow $2.99 trillion from April through June to cover the federal government’s massive response to the coronavirus pandemic, issuing a tremendous level of debt to try and limit the economic impact on U.S. businesses and workers.
Last year, Treasury borrowed $1.28 trillion over 12 months. The $3 trillion in borrowing Treasury plans to do now would be done over just three months.
Congress has approved nearly $3 trillion in new spending in the past two months to try and arrest the economic fallout of the crisis. Because revenue levels are falling, Treasury is planning to issue large amounts of debt to cover these costs.
(Excerpt) Read more at washingtonpost.com ...
Things that aren’t sustainable tend to end.
Good point. All those silly histrionics about hitting “debt ceilings” in previous years and phony “shut down the government” responses — where are they today?
fortunately this is the perfect time to be borrowing since the interest rate is zero ... FedGov should look at refiing the rest of their debt while they’re at it ...
“...tremendous level of debt to try and limit the economic impact...”
The writer confuses me. “try what?, and limit?”
If she writes ...level of debt to try TO limit the debt...
Is that not better?
Our language is being murdered.
Get rid of the Federal Reserve system and pay off the national debt.
Just think if you had their massive powers!
“Fortunately” doesn’t really enter into it...Fed Reserve interest rate manipulation for political purposes needs to end.
$574.5 Billion in interest expense last year even with near-zero rates.
https://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
My first thought exactly. Borrow it from who?
Money? Nothing but 1’ and 0’s in a machine.
I should be a millionaire several times over by now.
[[We’ve got to spend the money, to make the money...]]
“It costs money because it SAVES you money”
Vincent Gardenia [Moonstruck] RIP
Send the ChiComs the bill. Dear Federal Gubermint..
Stop spending money we do have!!
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Breaking news. This will likely expand shortly. It’s pretty sad when I am more solvent than the United States Government.
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Don’t worry, but vote for more (R)N(C). They’ll ‘fix it’ like the last time they had full control of D.C.
Wait...What?
Never mind.
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“Isn’t there some 800 number they can call for help with this addiction?”
The first step in recovery is admitting you have an addiction. Won’t happen.
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Maybe the (D) can loan the (R)N(C) their pocket-sized, mint-sized Constitutions. Seems the party of ‘small govt’ needs a brush-up as much as the Left.
>Are other countries doing this?
Why? Does that justify the illegal, unauthorized expenditures, support the party of ‘small govt’??
We’ve jumped off the building but not yet hit the ground. Buy gold and silver before the dollar becomes worthless.
“Or the War on Poverty?”
As Amity Schlaes has remarked in interviews about her new book on the subject, “Poverty won.”
Think about it — the Feds are running a $1 TRILLION deficit every month this quarter. There ain’t no coming back from Coronafascism unless the people arise and begin the treason trials. Which we will not, the numbers of those at the trough are simply too large. Short of profound Biblical Revival the only outcome is eventual collapse. Maybe not next year or even next decade, but the game is over and we know who won, we just do not yet know the final sore nor how much time is left on the clock.
[Our nation is bankrupt. Plan accordingly.]
Yes. Has been for some time.
It’s just a matter of time until....
Well, history shows where it often ends up.
Hyperinflation, starvation, war.
Or all that plus visits and praise by Sean Penn and Danny Glover.
What financial situations are other Western nations experiencing?
Any bailouts?
Monday 5/4/2020 at 2:25 AM ·
Japan’s Nobel prize winning Professor of Medicine, Professor Dr Tasuku Honjo, created a sensation today by saying that the Coronavirus is not natural.
“If it is natural, it wouldn’t have adversely affected the entire world like this. Because, as per nature, temperature is different in different countries. If it is natural, it would adversely affect only those countries having the same temperature as China. Instead, it is spreading in a country like Switzerland, in the same way it is spreading in the desert areas. Whereas if it were natural, it would have spread in cold places, but died in hot places.
“I have done 40 years of research on animals and viruses. It is not natural. It is manufactured and the virus is completely artificial. I have worked for 4 years in the Wuhan laboratory in China. I am fully acquainted with all the staff of that laboratory. I have been phoning them all, after the Coronavirus surfaced. But all their phones are dead for the last 3 months. It is now understood that all these lab technicians have died.
“Based on all my knowledge and research till date, I can say this with 100% confidence - That the Coronavirus is not natural. It did not come from bats. China manufactured it. If what I am saying today is proved false now or even after my death, the government can withdraw my Nobel Prize. China is lying and this truth will one day be revealed to everyone”.
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