Placing your observation into a picture:
Certainly does seem time to "degrow government."
Posted on 03/01/2024 10:01:50 AM PST by george76
The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.
The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months.
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 billion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
...
Moody’s Investors Service lowered its ratings outlook on the U.S. government to negative from stable in November due to the rising risks of the country’s fiscal strength.
“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,” the agency said. “Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.”
(Excerpt) Read more at cnbc.com ...
Renewing those notes as they become due is not going to get any cheaper.
$10 billion of new debt - every day.
$7 million of new debt - every minute.
Ronald Reagan was the first President to reach $1 trillion in debt - in Fiscal 1982.
Let’s put this in perspective:
As of 2023, the United States has approximately 735 billionaires with a combined net worth of around $4.5 trillion.
The total U.S. federal debt stands at $7.0 trillion as of December 2022. This is only debt held by the intragovernmental debt (Socia security, retired fed employees, military personal, Medicare, etc.).
If every billionaire were kind enough to donate $45 billion, this will wipe out the U.S. debt.
_____________
As of January 2024, there are 132.5 million full-time employees in the U.S.
Theoretically, each full-time employee would need to equally contribute approximately $249,732.36 to completely pay off the U.S. debt. Obviously, this is a theoretical calculation, and in reality, such a scenario is unlikely due to practical constraints and economic considerations.
Placing your observation into a picture:
Certainly does seem time to "degrow government."
Somebody DOES care, but as we can see, it’s not the right people who care, just the ones who will likely suffer the MOST from adhering to the present monetary policy.
“If every billionaire were kind enough to donate $45 billion, this will wipe out the U.S. debt.”
Moron liberals, as though every billionaire has $45 billion.
Is that bad?
Actually, it would do nothing of the sort.
Consider, that one dollar is itself a unit of debt. The FED creates M2 and shrinks M2, and the amount of M2 is way WAY less than the total "national debt", as we know it.
COnsider that the target itself of 2% inflation is in of itself evil usury, and theft of wealth.
Fact is, the national debt will NEVER EVAH be paid back, as the system is built upon it. It ALL must come crashing down, as all fiats have in the past, and a new monetary system come to the rescue. It could be a new fiat system (like non-PM CBDC), and the cycle repeats. Fiats generally last about 200 years, ours is 225 years. PM-backed currencies are still viable 5000 years later.
That’s more than an additional $10,000 per year for every person in the U.S. (about $30,000 per taxpayer), let alone the outstanding debt!
And yet no one will do anything about. Deficit spending is all the rage. We’ll all be in rags soon.
The total national debt is over $34 trillion!
Every billionaire does not have $45 billion. There are only 17 billionaires in the U.S. worth over $45 billion and why should they consider donating most of their wealth to make barely a dent in this reckless unlawful spending?
https://www.forbes.com/billionaires/
“...all my savings are going to be wiped out by the Weimar Republic-level hyperinflation that this is going to result in.
The people responsible for this are feathering their nests and planning their safe getaways. “
Insiders were able to profit hugely during the Weimar hyperinflation.
They, or a bank they controlled, were able to borrow from the Reichsbank at low nominal rates, buy real assets, and pay back the loan with hyperinflated marks.
If you look at all the banking institutions that had access to the Federal Reserve “Special Borrowing Facilities” in 2008 you can see who these profiteers will be.
that sounds sustainable..
not.
WASHINGTON, D.C. — As questions continue to mount regarding the lack of fiscal responsibility exercised by lawmakers, U.S. Senators said they are not super worried about running up the national debt since most of them will die of natural causes in the next year or so.
“Yeah, we’re not too concerned about it,” said Senate Majority Leader Mitch McConnell. “If any of us were in any position to be alive when it comes time to pay the piper, we might do things a bit differently. As things stand now, most of us have one foot in the grave already, so we’re just going to keep tossing away the country’s future. By the time things get really bad, we’ll be out of here.”
[satire] Babylon Bee
I wish I didn't read the article. Now I'll have to eat a bacon cheeseburger before it costs $50 and is unaffordable, to briefly get over depression.
“No one seems to care…………”
You’re generally right. A few nerds like me care I suppose. I have been careful about personal debt all my life and have always wondered how elected leaders could be so careless with the peoples’ finances. Many answers to that question.
Outrageously irresponsible!
Have a drink while you’re at it. It’s Friday, the monetary printing presses are rolling and Neocons want war.
No telling how many Fridays we have left…
The daily INTEREST on the debit is $2,400,000,000. (That’s 2.4 BILLION)
That is just interest on the balance due. Every day.
If each and every person in America came up with $102,294, we could satisfy the debt.
Lots more good info here.....
https://www.pgpf.org/national-debt-clock
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