Posted on 11/02/2023 6:29:20 AM PDT by Kaiser8408a
Appartently, Joe Biden and fellow big spenders in Washington DC, Mordor on The Potomac, don’t care about fiscal discipline. With seemingly endless spending of wars (Ukraine, Israel, Taiwan and the invasion at our southern border, and inane “green” spending,
Janet Yellen and the US Treasury will be auctioning off $776 billion of debt in the final quarter of calendar 2023, a bit below market expectations. Treasury said it will auction another $816 billion in the first quarter of 2024. So, that is yet another $1.6 TRILLION in debt.
The rapid rise in US yields to ~5% points to the government’s annual interest-rate bill rising to 4.5-5% of debt outstanding in the next six months. That’s in the region of $1.7 trillion – or the GDP of Australia – each year.
Such large payments are negative for the economy. Interest is likely to be paid for using higher-velocity money (e.g. taxes) and received by holders less likely to spend the proceeds in the broad economy, and instead re-invest it. Independent monetary policy becomes increasingly difficult when the equivalent of 6% of US GDP is being diverted towards interest payments each year.
Allegedly, The Fed isn’t interested in buying additional US debt, and likely China and Japan won’t be buying our debt either. But maybe the REAL Federal government, Blackrock and their friends will buy the debt!
(Excerpt) Read more at confoundedinterest.net ...
Apparently Crooked Joe Biden didn't even cheat and plagiarize his way through any Basic Econ courses.
Social security: 25%
Medicare and Medicaid: 35%
Defense: 15%
Interest on debt: 15%
What to cut?
Time to start minting those 30 or so one trillion dollar coins.
... Or just watch it all flush down the commode.
Trump/Mnuchin will be blamed.
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Social security: 25%
Medicare and Medicaid: 35%
Defense: 15%
Interest on debt: 15%
What to cut?
>
“Don’t you dare touch what I ‘paid into’”
- (too many) ‘FRiends’
Couldn’t have gotten here w/o the help & assistance from the prior Speaker.
“Amazing” how that ‘smaller govt’ slogan got dropped & hasn’t dare been uttered since.
Many Freepers actually think they “own” the money they paid in!
How can the Executive spend without the approval of Congress?
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Many Freepers actually think they “own” the money they paid in!
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You missed the tics/quotes around “paid”
They must be govt indoctrinated, I mean ‘educated’ *shrug*
My mistake!
I am just used to so many people here arguing with me that’s “their money”.
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