Total US Government Revenues in the 2023 fiscal year were $4.44 Trillion from all sources. This includes Social Security and Medicare Taxes.
If you subtract the Social Security and Medicare Taxes, the remaining General Fund Revenue is $2.9348 Trillion.
Total General Fund Revenue of $2.9348 Trillion divided by our $35.6 Trillion debt is 8.5%. That means that if interest on the National Debt reaches 8.5%, it takes 100% of our General Fund Revenue just to pay interest with ZERO left to run the government.
Many of you remember rates of 15% to 20% in the early 1980’s thanks to Carter.
We are so far beyond bankrupt that collapse is inevitable no matter who wins the election.
“ Total General Fund Revenue of $2.9348 Trillion divided by our $35.6 Trillion debt is 8.5%. That means that if interest on the National Debt reaches 8.5%, it takes 100% of our General Fund Revenue just to pay interest with ZERO left to run the government.
Many of you remember rates of 15% to 20% in the early 1980’s thanks to Carter.”
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Bears repeating… and repeating often.