Posted on 11/07/2023 5:29:26 AM PST by FarCenter
Estimated annualized interest payments on the US government debt pile climbed past $1 trillion at the end of last month, Bloomberg analysis shows. That amount has doubled in the past 19 months, and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022.
The figures are calculated using US Treasury data which state the government’s monthly outstanding debt balances and the average interest it pays.
The worsening metrics may reignite debate about the US fiscal path amid heavy borrowing from Washington. That dynamic has already helped drive up bond yields, threatened the return of the so-called bond vigilantes and led Fitch Ratings to downgrade US government debt in August.
(Excerpt) Read more at finance.yahoo.com ...
Slackers.
For comparison, dead-beat China owes us over $1.5 trillion in unpaid treasuries. Unfortunately, the reason we don’t call them out on it is because the “us” they owe isn’t the U.S. government, but American citizens.
🎶 and you don’t believe, we’re on the eve of destruction … 🎶
As expected…….just get the next CR ready in two weeks. What are you waiting for? Other countries around the world depend on it.
And I hear from Dems
“We owe that money to ourselves. Fed Reserve buys treasuries and the interest paid goes directly to the US Treasury! “.
Innumeracy
Third world banana republic checklist:
bankrupt - check
currency destruction - check
multitiered ‘justice’ system - check
shameless corruption - check
endless war - check
blatant election cheating - check
out of control crime - check
unlivable cities - check
political prisoners - check
political persecution - check
censorship - check
sock puppet state media - check
did I miss anything?
Maybe McConnell will come out and mumble something about how concerned he is with all the spending. Or perhaps not.
PS: CBO says the debt will be $2T over the next ten years (Yes, they figured in the expiration of Trump tax cuts)!
Oh don’t worry.
People are now earning better interest on their savings accounts
So it’s all good 👍👍.
Nothing bad can happen.
🔝🔝🔝
They borrow that money and give it to our enemies.
That is how DemonicRats create a ‘Sustainable’ economy.
Demented president. You missed that.
But a really good, and sobering list.
(They borrow that money and give it to our enemies.)
We are soooo in trouble alongside Laz
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