The interest on the debt reaches 1 trillion.

[Harpy Eagle]

/-----/ Enjoy the rest of your weekend, Harpy.

Thanks, about head out for a round of golf in the steam room known as the mid-west!

 

[the watcher]

Here in Virginia we haven't had any real rain for 2 weeks, and the fire danger has to be real.

 

[expat_panama]

This is the poison fruit of manufactured inflation, endless wars, and buying political support. This is just for the privilege of borrowing money from the bankers, not the principal which also goes up. It's why we can't have nice things because debt is slavery, only nicer. U.S. Debt Interest Payments Reach $1 Trillion

just noticed that the $1Trillion mark is a bit of a fiction. It's the latest quarter extrapolated --iow if we magically repeated this last quarter four more times.

otoh the previous year --2023-- is bad enough and we've got to stop it:

--and we may end up just like in the bad old days of Tip Oneal. My question is that since congress is the source of the budget, why is the Rep controlled congress spending so much money since a Dem president took over. Like, presidents don't have THAT much authority. My suspicion is that our Rep congress is a bit sloppy here.

Your thoughts?

 

[Nobody911]

This is the poison fruit of manufactured inflation, endless wars, and buying political support. This is just for the privilege of borrowing money from the bankers, not the principal which also goes up. It's why we can't have nice things because debt is slavery, only nicer. U.S. Debt Interest Payments Reach $1 Trillion

If the interest on the US public debt reaches $1 trillion, it would be a significant concern. Such a high interest payment would strain the government's finances, potentially leading to higher taxes, reduced government spending on essential services, or increased borrowing, further exacerbating the debt burden.

This level of interest payment could also have a negative impact on the economy. It may crowd out other important government expenditures like infrastructure, education, and healthcare, limiting the government's ability to invest in long-term growth.

Additionally, the high debt servicing costs could lead to a loss of investor confidence,causing interest rates to rise and potentially slowing down economic growth.

Overall, a $1 trillion interest payment on the US public debt would signal a serious issue with the country's fiscal health, potentially leading to a vicious cycle of increasing debt and interest payments. It would be crucial for the government to address this situation through responsible fiscal policies to prevent LONG-TERM ECONOMIC INSTABILITY.

 

[expat_panama]

If the interest on the US public debt reaches $1 trillion, it would be a significant concern.

The annual payment has not yet reached $1T, all we got so far is a bad quarter that could be projected to a rate of $1T/year.

Such a high interest payment would strain the government's finances, potentially leading to higher taxes, reduced government spending on essential services, or increased borrowing, further exacerbating the debt burden.

This level of interest payment could also have a negative impact on the economy. It may crowd out other important government expenditures like infrastructure, education, and healthcare, limiting the government's ability to invest in long-term growth.

So far what we're talking about here is less than 2% of total receipts. Sure we can notice it but this is far from crippling us.

Additionally, the high debt servicing costs could lead to a loss of investor confidence,causing interest rates to rise and potentially slowing down economic growth.

Overall, a $1 trillion interest payment on the US public debt would signal a serious issue with the country's fiscal health, potentially leading to a vicious cycle of increasing debt and interest payments. It would be crucial for the government to address this situation through responsible fiscal policies to prevent LONG-TERM ECONOMIC INSTABILITY.

OK, so I can be as concerned as the next guy because the level is definitely rising. However, it's nowhere near an all time high and since all that doom'n'gloom never happened last time the debt went higher, there's no reason to expect it this time.

 

[The Sage of Main Street]

I support ukraine independence

The Ukraine Is a Colony of the New Evil Empire, Globalism

 

[Mac-7]

The Ukraine Is a Colony of the New Evil Empire, Globalism

I dont know what that means

Ukraine does not want to be a province of the new Imperial Russia

There is nothing evil about that as far as I can see

 

[eagle1462010]

USAspending.gov

635 Billion a year interest on the debt.

 

[eagle1462010]

As of May 2024 it costs $728 billion to maintain the debt, which is 16% of the total federal spending in fiscal year 2024.


Sorry. $728 Billion. I used wrong data set last post. That was 2023

 

[The Sage of Main Street]

I really don't think anyone needs be a fiscal Einstien to figure out where this is going....

~S~

Crystal Balls Made Out of Paper Mache

Pundits have been saying that for decades, so there's something missing in their analysis, which claimed we should have defaulted decades ago. And why are the plutocracies so eager to buy the American government's debt if all the professional oinkonomists predict they'll wind up with huge losses just around the corner?

 

[eagle1462010]

Crystal Balls Made Out of Paper Mache

Pundits have been saying that for decades, so there's something missing in their analysis, which claimed we should have defaulted decades ago. And why are the plutocracies so eager to buy the American government's debt if all the professional oinkonomists predict they'll wind up with huge losses just around the corner?

Anyone who tried to move us off the worlds Reserve Currency were atracked. Iraq tried gold standard and so did Libya.

Now BRICS is challenging. Many countries including Saudi Arabia are ditching the dollar.

Why would BRICS pick South Africa as a member.

Easy......GOLD MINES

 

[the watcher]

I don't need to finesse it. Sorry not sorry the $7T in intragovernmental holdings prevents your team from killing off social security. Perhaps if republicans walked the walk they pretend to walk on student loans we would be less in debt---you borrowed it, now pay the damn money back. Until then, live in your castle in the sky.

I don't have a team and if you really think you're on a team you are in for a rude awakening. We will all have time to sit and blame each other when we have no where to go and are just waiting for our daily government cheese with the teachings that come with it. It won't be so spirited then I imagine.

 

[The Sage of Main Street]

I dont know what that means

Ukraine does not want to be a province of the new Imperial Russia

There is nothing evil about that as far as I can see

It's a Province of Sorosiana

 

[Mac-7]

It's a Province of Sorosiana

I dont know that

But even so its not russia’s right to invade them

 

[The Sage of Main Street]

I dont know that

But even so its not russia’s right to invade them

No Different from When Eisenhower Invaded France

 

[Mac-7]

No Different from When Eisenhower Invaded France

Its very different

The Free French were part if the liberation of Occupied France