They cant raise it much. They do and the largest expense on the federal budget will be the payment just for the interest on the debt.
If they raise it much, it will crush the housing market because no one will be able to afford a home.
Correct. Debt service costs will soar.
Xiden, more correctly Jill, don’t care about no stinking debt, deficit or anything else beyond what they can get MSM shills to parrot out nightly that fits their lies. It’s only about the power-of-now...
Yup it was always the trouble with the massive lending. No view of a future where rates are not in the basement.
Inflation itself fuels the US Treasury well.
Note: “Higher than Budget estimates”
2021 Sec Treasury & OMB
Individual income taxes were $2.0 trillion, $339.5 billion higher than the Budget estimate. This difference was the net effect of higher withheld payments of individual income tax liability of $154.1 billion, higher nonwithheld payments of $170.4 billion, and lower-than-estimated refunds of $15.0 billion.
Corporation income taxes were $371.8 billion, $103.3 billion above the Budget estimate. This difference was the effect of higher-than-expected payments of corporation income tax liability of $86.7 billion and lower-than-estimated refunds of $16.6 billion.
Social insurance and retirement receipts were $1.3 trillion, $17.9 billion higher than the Budget estimate.
Excise taxes were $75.3 billion, $1.2 billion above the Budget estimate.
Estate and gift taxes were $27.1 billion, $9.5 billion above the Budget estimate.
Customs duties were $80.0 billion, $4.8 billion below the Budget estimate.
Miscellaneous receipts were $133.3 billion, $1.4 billion below the Budget estimate. This was the net effect of lower-than-expected collections of various fees, penalties, forfeitures, and fines of $4.2 billion; partially offset by higher-than-expected remittances by the Federal Reserve System of $2.8 billion, largely due to lower short-term interest rates and higher earnings as they have increased their asset holdings in response to COVID-19.