The US government's debt has surged to $34.5 trillion, up from $27.7 trillion in January 2021. Treasury issued $7 trillion of debt in just three months, matching the worst of the Covid period. The government is running a budget deficit twice as big as several major economies combined, funding it mostly with short-term debt. Interest payments on the debt are projected to reach $1.6 trillion this year, representing 4.5% of the total debt.
BofA "US government spending past 5 months = $2.7tn, up 9% YoY…on course for $6.7tn in FY24; US national debt rising $1tn every 100 days…set to hit $35tn in May'24, $37tn by US election, $40tn in H2'25". Just 🤯 How do you fix this? https://t.co/jz8THUtFnv
Biden’s government will spend whopping $1.6 trillion this year for interest payments on debt. That’s 4.5% on a debt of $35 trillion. Banksters have snared the US in debt trap.
🇺🇸 US Government Debt is Up Over 24% in 3 Years January, 2021: $27.7 trillion Now: $34.5 trillion https://t.co/afDeQ7tj9z
🇺🇸 US Government Debt January, 2021: $27.7 trillion Now: $34.5 trillion
The US issued lots of Treasury bills (red) when COVID hit, building a war chest in the Treasury general account (black). Normal. It rebuilt this account in 2023 from low levels, also with short-term debt. Normal. But it's still issuing mostly short-term debt even now. Not normal. https://t.co/SHlfm4spVM
The US gov't debt machine is truly out of control. The US (lhs) runs a budget deficit that's more than twice as big as Canada, Euro zone, Japan & UK combined (rhs). More important, the US - unlike everyone else - funds all this with very short-term debt (red). What are we doing? https://t.co/JlbgJpF4Yy
🇺🇸 US Federal Government debt 5th of September, 2023: $32.8 trillion Now: $34.57 trillion
Fiscal collapse accelerates as Treasury issues $7 trillion of debt in just 3 months. That matches the worst of Covid -- no pandemic needed. And it's double the previous record that had stood for 231 years. https://t.co/e0W0y2n6cm