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US Reaches New Milestone With Massive Federal Debt
Posted on 4/9/24 at 11:03 am
Posted on 4/9/24 at 11:03 am
quote:
The net interest on the federal debt exceeded defense spending in the first half of fiscal year 2024 as government spending piles up and interest rates remain high, according to a report from the Congressional Budget Office (CBO).
Net interest on the U.S. government’s public debt cost an estimated $440 billion in the first half of fiscal year 2024 from October to March, compared to $308 billion in the same period in fiscal year 2023, an increase of 43%, according to the CBO. Spending on the U.S. military only increased 8% in that same time frame, from $386 billion to $412 billion.
https://dailycaller.com/2024/04/09/interest-payment-biden-admin-runaway-debt-exceeds-defense-spending/
4
Posted on 4/9/24 at 11:05 am to Auburn1968
Trillions in Covid spending following a decade of QE/ZIRP has consequences
Posted on 4/9/24 at 11:08 am to Auburn1968
Does anyone think this is going to end well?
Can you imagine how bad the GDP to debt ratio would be if the government had to live within its budget.
This is bipartisan effort.
Can you imagine how bad the GDP to debt ratio would be if the government had to live within its budget.
This is bipartisan effort.
Posted on 4/9/24 at 11:09 am to Auburn1968
Posted on 4/9/24 at 11:11 am to Achilles Hill
quote:
Does anyone think this is going to end well?
Posted on 4/9/24 at 11:11 am to Auburn1968
I have a great idea. Since we are drowning in debt, why don’t we send more money to Ukraine, give more freebies to illegals and pay off all student loans!
Posted on 4/9/24 at 11:13 am to RogerTheShrubber
Why is it portraying the COVID-19 pandemic as "ongoing"? 
Posted on 4/9/24 at 11:14 am to Y.A. Tittle
quote:
Why is it portraying the COVID-19 pandemic as "ongoing"?
Because congress keeps passing Nancy Pelosi CRs.
Posted on 4/9/24 at 11:15 am to RogerTheShrubber
1913 was the beginning of the end. Massive expansion of gov't and debt all thanks to Woodrow Wilson via the Federal Reserve and the Federal Income Tax.
Posted on 4/9/24 at 11:16 am to Y.A. Tittle
quote:
Why is it portraying the COVID-19 pandemic as "ongoing"?
2-weeks to flatten the curve
Posted on 4/9/24 at 11:33 am to Achilles Hill
quote:
Does anyone think this is going to end well?
Debt service is going to eat all the peanuts with nothing left for anything else.
I saw that in NYC before Giuliani came in.
This post was edited on 4/9/24 at 11:35 am
Posted on 4/9/24 at 11:35 am to Auburn1968
quote:
Debt service is going to eat all the peanuts with nothing left for anything else.
Correct. The goose is cooked.
Posted on 4/9/24 at 1:18 pm to RogerTheShrubber
You mean to tell me we used debt to finance a world war, then slowly paid it down afterward? Sort of like a somewhat responsible use of debt?
Posted on 4/9/24 at 1:20 pm to Y.A. Tittle
quote:
Why is it portraying the COVID-19 pandemic as "ongoing"?
Because they haven't finished consolidating power over the citizenry and might still need that tool.
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