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It’s all about the budget Matt and others are trying to keep it down
How many of you know the Rule of 72?

The FED. Budgets grows by 8% every year since about 2000.

72 / 8 = 9 - It takes 9 year to double the Fed. budget with this BUILT in 8% increase.

We are a few years away from Argentina level of Federal Debt.

The various D States and Cities are already there - N.Y. both City and State, Chicago, as well as Illinois, CA. etc.

10yr treasuries pay 4.5% Inflation is running at 3-4% - no way to live in your old age on your savings. History just keeps repeating itself

The federal debt became an imaginary number years ago, when we lost the ability to even think about paying it off. Which year was that? Pick a date; the last time the federal debt decreased from one year to the next, Dwight Eisenhower was President.

Even when Clinton was President and Newt Gingrich was bragging about a balanced budget, the debt increased each year. The smallest increase while Clinton was President was only $18 Billion, but in some quarters that is considered a big number. That's more than my wife spends on the grandchildren each year.

And comparing the federal debt to GDP does not make any sense, because that is like comparing your household debt to the income of everybody who lives on your block or in your apartment building. $32 Trillion federal debt compared to $5 Trillion federal income is a lot scarier than that same 32 Trillion compared to GDP of almost 20 Trillion.

So how do we get out of this? Simple. Have Joe Biden sign an executive order forgiving the federal debt and telling all the creditors that, "Hey man, we have nukes and F-16's. What are you gonna do about it? Go behind the woodshed? C'mon man!" Sounds silly, but it is more practical than any of the other alternatives. Then Kevin M can write a strongly worded letter and start spending all over again.

2-Year Note Yield rises as high as 5.15%, the highest since July 2006.The 2-Year Note Yield is now up a massive 500 basis points in since August 2021. It’s only a matter of time before we see 8% mortgages and 30% interest on credit card debt.

Over the last 5 years, the US has added a total of $11.5 trillion in debt. At the same time, we are on track for $1 trillion in annual interest expense. Interest will soon be the US government’s biggest expense. Higher rates are here to stay.