Posted on 08/20/2021 8:59:59 AM PDT by VictimsRightsPro2a
Last September, the Congressional Budget Office (CBO) predicted the federal debt wouldn’t hit $29 trillion until 2028. Just short of a year later, the national debt stands at $28.6 trillion and is set to surpass $29 trillion within weeks.
Since Congress hasn’t yet enacted all its new spending proposals, the CBO debt estimates don’t yet include them. The $1.2 trillion “infrastructure” bill still has to pass the House, and a $3.5 trillion budget reconciliation bill will add to the current budget. The proposed 2022 budget will likely be more than $6 trillion (up from $4.8 trillion in 2020).
(Excerpt) Read more at thefederalist.com ...
This is a major crisis—the Fed might actually have to print money without proper authorization....
Yawn.
“...a billion here...a billion there...pretty soon you’re talking about real money...”
https://www.youtube.com/watch?v=7Au2-J-3on0
“To finance the debt, the U.S. Treasury has to sell bonds. ... In fact, interest rates on bonds have to outpace expected inflation for anyone to want to buy them.”
This article would be better if the author understood what he is talking about. We no longer fund the debt by selling bonds, instead the government loans itself money to cover the shortfall.
This is a major crisis—the Fed might actually have to print money without proper authorization....
Yawn.
_______________________________________________
Haha....yep. If our irresponsible government has taught us anything it’s that budget deficits don’t matter. It can always be covered by more borrowing. Unless the public punishes politicians for creating too much inflation, the government will just keep on keeping on....
$29 trillion / 320 million Americans = $90,625 per person.
Lott-the gun fella?
When everyone finally realizes the emperor has no clothes and the results of the massive debt take effect, it will be chaos and everyone will be left to fend for themselves, Afghanistan will be minuscule compared to this catastrophe.
Math
Designed to implode us...better repent and put your trust in Jesus.
Maybe Joe will forgive our debt.
We have reached the national debt black hole event horizon.
At that point it really does not matter what you do—it is gonna end in tears—the only question is when, not if.
if defecits don’t matter, why do I have to pay taxes?
One day,the lights will go out: America will be Venezuela on steroids as ATM and EBT don’t work,prices rise 1000% and the dollar is worthless. After that,society breaks down and hell unleashed.
I can cover the whole amount personally in Zimbawean dollars. :)
Education Department will cancel student debt for more than 320,000 borrowers
Cue the remaining student debtors, and start cuing up home mortgages.
The private non-federal non-reserved FED is being dismantled right in front of our noses. Not a plug nickle of the debt will be paid back.
Precious-metal currencies are in the future: NESARA, here we go.
I’ve got one of those!
And, they have value... guess there is a demand among collectors, to the point of grading them, trading them, etc, as typical in coin collecting circles.
I think the one I have, perhaps a 10 trillion dollar note, is worth about $40 (granted, $40 in another fiat worthless currency).
You have to pay taxes because the elites love torturing you.
As an old classic said: “Your Life is Their Toy”.
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