Posted on 03/01/2024 10:01:50 AM PST by george76
The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.
The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months.
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 billion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
...
Moody’s Investors Service lowered its ratings outlook on the U.S. government to negative from stable in November due to the rising risks of the country’s fiscal strength.
“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,” the agency said. “Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.”
(Excerpt) Read more at cnbc.com ...
$10 Trillion in US Treasuries must be sold in 2024 - plus the current year 2024 shortfall of another $1+ Trillion .. the US federal government also pays ~ $1 TRILLION just in interest payments.. then the states and local debt over $200 Trillion.
I spent my adult life trying to be responsible, saving, not living beyond my means, and all my savings are going to be wiped out by the Weimar Republic-level hyperinflation that this is going to result in.
The people responsible for this are feathering their nests and planning their safe getaways.
We have dark times ahead.
No one seems to care…………
This is all GOOD. It must happen this way. No worries, as not a red cent will ever be paid on it. Never has, never will.
Gold today, in terms of fiat TP “dollars”, is at a new high.
Soon, the US, much like the rest of the world will transition to a new monetary system, backed by PMs. And, catapulted by a failed fiat/FED/IRS/banksters/usury-based/fractional-reserve-based Ponzi.
I spent my adult life trying to be responsible, saving, not living beyond my means, and all my savings are going to be wiped out by the Weimar Republic-level hyperinflation that this is going to result in.
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This is a great post. Exactly how I feel.
When this hits, there’s gonna be some payback to be had. That’s all I’m gonna say.
Million…billion…trillion…it’s all funny money at this point. Does Fort Knox still have…you know what?
Breaks my heart.
I have loved this country. It isn’t perfect.
But we have done more good in this world than any country in the past, have decreased poverty worldwide and have been a model for how things could work.
No more.
These corruptocrats are going to be long gone when the SHTF.
Here in CA, Gavin Newsom told us that the state is running a 36 billion dollar deficit. Non partisan told us the next day it’s more like $63 billion. Last week the news reported it’s more like $74 billion.
IMHO, fort knox was emptied completely after WW2, and remained that way thru the fake 1974 audit, up until at least 2017, and now it has been more than refilled, awaiting the announcement of NESARA/GESARA.
That seems like a lot, doesn’t it?
How much would the interest rates we have to pay on the overall debt have to rise from some unforeseen, other crisis to make the debt service unpayable without Weimer/Zimbabwe type inflation printing of money? My gut feel guess is, not all that much. Could hyperinflation like that lead to unrest great enough for the people running Biden to suspend elections “for the good of the children/nation/etc? Especially since that would also cause a bum’s rush for majority to want to vote Trump and throw the Dems out.
> Weimar Republic-level hyperinflation <
That’s it, exactly. The federal government will not default on its debt. So the only other option is…well, what you said.
I just wonder if they’ll try some confiscatory schemes first. Like perhaps raising taxes sky high. Or maybe seizing tax-advantaged retirement accounts, and replacing them with worthless IOU’s.
Things are about to get a whole lot more complicated.
This has passed from poorly conceived, through idiotic, and is now essentially immoral and criminal in any sane world.
All else, from war to peace, hinges on the above.
Since 2001, the "leadership" of this nation has grown the debt from circa 5 trillion USD to today's insane 34.411 trillion USD.
The writing is on the wall, and no prophet is needed to read the message.
“Overwhelm the system”, Saul Alinsky.
It pains me to say it, but even Trump doesn’t care. The federal debt continued to rise when he was president, and at roughly the same rate as when Obama was president.
An argument can be made that Congress forced Trump’s hand. Well, okay. But the buck stops at the Oval Office.
Trump did not veto a single major spending bill. Should he return to the White House, things will improve on many fronts. But probably not in regards to the deficit.
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