Posted on 06/18/2024 1:52:07 PM PDT by george76
Everyone is posting that the annualized number is about $1.059 trillion.
However the interest on the debt for just May 2024 was $103 billion. Debt will grow another $2 trillion or more in the next 12 months.
We are already on pace for over $1.2 trillion in annualized payments on the debt. Within the next few years, interest on the debt will exceed Social Security payments and become the largest item in the budget.
...
US federal interest payments now exceed the defense budget.
...
We have crossed the Rubicon.. It will never be paid down! NEVER.. And this administration is handing out money like Halloween candy
...
40 years, we went from spending $1 trillion dollars on the entire federal budget to spending $1 trillion dollars on the interest on the debt of the federal government.
Every Federal agency head and their families must pay for this.
Not just federal.
State and local, too.
The plan is to leave Trump, if he can make it back into office, a smoking wrecked hull for a ship of state.
Trump will likely have to make some tough choices to right it.
And Deep State will be waiting to pick off his supporters if we go linguine spined and bail.
Yes. But how much of that is in 2024 dollars? The amount is different each year due to inflation.
$1.00 in 1960 is now $10.72 so nearly $11.
“40 years, we went from spending $1 trillion dollars on the entire federal budget to spending $1 trillion dollars on the interest on the debt of the federal government.”
Incredible. This is based on relatively low interest rate environments at least over the last few decades.
If interest rates were to double or triple then ... we are in a heap-a-trouble.
But it can be inflated away to almost nothing - and politicians not yet elected can take the blame.
America’s previous generations built up a great deal of power and trust in the USD.
In 1971, we severed any final monetary restraints on the Federal Government and politicians
The welfare state, the warfare state, and woke-marxist ideology became bloated on printed fiat money and massive, seemingly unlimited debt. America’s Left and US politicians think its an absolutely normal state of affairs. They have never known any different.
We are seeing the consequences of this incredible excess now.
We have crossed the Rubicon.. It will never be paid down! NEVER.. And this administration is handing out money like Halloween candy
~~~
“It will never get paid down” is the reason why “this administration is handing out money like candy”.
It’s not just the administration, it’s congress.
No one even pretends they care about fiscal responsibility anymore. They don’t even give it lip service.
The last millennium called, and they want their fake political platforms back.
The politicians are going up to DC to put their face in the trough while there is still a trough left.
Democrats are spending.
Americans are suffering.
As a lifelong Texan, born and raised, I think Texas should do all the paperwork and pass all legislation required to SECEDE “Subject to” the Federal Government going bankrupt and defaulting on it’s debt.
When it does, Texas automatically becomes a free country....AGAIN. (March 2, 1836 to, say, 2025)
A 189 year run as a state.
Ban the Federal Reserve. No more flexible currency.
Musk needs to understand that all the smart and talented people work for the government. They do things he will never understand, because he is not on their intellectual level. /Off SARC
Trump MUST do what Argentine president Javier Milei has done. Take a chainsaw to the bloated Administrative State and fire hundreds of thousands of them. Force them into the private sector to compete with illegal aliens for low paying jobs.
Fire EVERYONE at the FBI, rename the agency and then rehire some of them back AFTER they have gone through a complete TDS background check. The rest will be sent to Gitmo to work on their death row resume. /spit
He has to get past the CHEAT first.
> Trump will likely have to make some tough choices to right it. <
The federal debt rose at roughly the same rate when Trump was president as it did when Obama was president. So either Trump doesn’t care about the debt or he thought it was beyond his power to fix. After all, he did not veto a single major spending bill.
Perhaps Trump 2.0 will be different. For the sake of the country, let’s hope so.
You mean unpopular choices that will be opposed by the deepstate. What needs doing is obvious. Tough choices means choices where you don't really know what is right and what is wrong. What to do about resources you don't have and won't get isn't tough. It's obvious. Stop promising them and stop counting on them and line up the people who got you in this situation and blame them.
Trump has no plan to reduce the debt. Never really addresses it meaningfully.
And where are the Republicans on this outrage?
Don’t worry - they’re hoping that World War III
will provide the necessary distraction
If we deliver both Houses of Congress to the Republicans, he can get them to enact massive cuts to the Federal budget. Once the economy starts humming on all 12 cylinders, the world will be in shock on his miraculous & amazing resurgence in the harnessing the ability of American resourcefulness.
Europe will follow suit on several issues, the major one will be on the immigration front that plagues them as well.
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