Posted on 01/02/2024 2:57:53 PM PST by Oldeconomybuyer
WASHINGTON, Jan 2 (Reuters) - The U.S. federal government's total public debt has reached $34 trillion for the first time, the U.S. Treasury Department reported on Tuesday as members of Congress gear up for another series of federal funding battles in coming weeks.
The Daily Treasury Statement for Friday showed that the total public debt outstanding rose to $34.001 trillion from $33.911 on Thursday.
The debt that counts toward the federal debt ceiling rose to $33.89 trillion on Friday from $33.794 trillion on Thursday. This "debt subject to limit" category excludes the unamortized discount on Treasury bills and zero coupon bonds, debt issued by the Federal Financing Bank and guaranteed debt of certain other agencies.
The milestone comes shortly after the federal debt topped $33 trillion in September amid rising federal deficits fueled by falling tax revenues and rising federal expenditures.
Congress returns to Washington next week to tackle Jan. 19 and Feb. 2 deadlines for settling government spending through September, amid Republican demands to reduce fiscal 2024 discretionary spending below caps agreed in June. Lawmakers also hope to pass emergency aid for Ukraine and Israel, possibly with unrelated U.S. border security provisions attached.
Failure to approve the one-dozen fiscal 2024 spending bills would plunge Washington agencies into shutdown mode. But reaching compromise could become more difficult with November presidential and congressional elections coming quickly into focus.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a fiscal watchdog group, called the $34 trillion federal debt figure "a truly depressing achievement," attributing it to political leaders' unwillingness to make difficult fiscal choices.
(Excerpt) Read more at reuters.com ...
To the moon, Alice!
A trillion a year in interest.
Pretty soon they will be talking about real numbers.
$40 Trillion right around the corner!
34 trillion in debt and the left still thinks we underspend on welfare!
If they saved ten million dollars it would not make the slightest dent.
Congress might as well just throw in the towel and double the budget.
It would not make the slightest difference in the ending to the farce.
Biden better call Ukraine and tell them he wants his money back.
Pipe dream #1836284058
The U.S government doesn’t give 2 💩 about the debt. They’re never paying it back and they’ll just keep piling it on. In 10 years or less it will double and they still won’t care.
The GOPee is always the patsy when it comes to political “fights”.
The interest on the debt alone is a Trillion dollars. That is enough to pay for all of America’s Carriers and support ships and crew. With plenty left over.
Republican: There is too much pork in this spending bill!
Democrat: Take a good look. Some of it is for you.
Republican: I vote “aye”.
Same as it ever was. Except this time the debt cannot be managed.
So off the cliff we go.
The Canadian pattern is that the “conservatives” take the political hit for implementing a VAT in order to keep the debt bubble going for a few more years.
Liberals get the political benefit from the spending.
“Conservatives” take the hit for being the tax collectors for the Welfare State.
remember kiddies...all of these years of politicians spending the American people blind, sick and poor, it was YOU, the voter who watched while rome burned. between to innured, the ignorant and the apathetic, it was YOU... the American voter who didn’t do the homework or the leg work necessary to make it to the polls and vote for the candidates most likely to NOT screw you but, as always, you voted for the people your TV or internet TOLD you to vote for to “protect democracy” from those who would have you think for yourself and make your own decisions based on your own knowledge and not popularity or letter. but ain’t nobody got time for that qwap.
> The interest on the debt alone is a Trillion dollars. <
And to make things worse, China owns rough $860 billion of US Treasury debt. So a good chunk of that interest payment goes right to the ChiComs.
Well, it’s January and we get to find out if Mike Johnson was biologically equipped to father his children.
Who is getting the interest on 33 trillion?
It’s time to stop calling the Republican establishment patsy, stupid or losers. THEY ARE COMPLICIT in the corruption — running up debt, open borders and using our foreign policy to enrich themselves and their big money donors.
> Who is getting the interest on 33 trillion? <
Here you go:
https://www.statista.com/statistics/201881/holders-of-the-us-public-debt/
And California is giving free health care to the entire world, just step over the border, which means California will soon hit up the fed for money
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