US Government Deficit/Surplus, by Year:
– 1960: -$3 billion
– 1970: -$3 billion
– 1980: -$70 billion
– 1985: -$210 billion
– 1990: -$220 billion
– 1995: -$160 billion
– 2000: +$240 billion
– 2005: -$320 billion
– 2010: -$1.3 trillion
– 2015: -$440 billion
– 2020: -$3.2 trillion…— The Kobeissi Letter (@KobeissiLetter) April 15, 2023
Here's where all the money is going.
At the current pace, we will pass $50 trillion in US debt within the next 10 years.
The interest expense on this debt will be over $1 trillion per year, or 25% of the government's current budget.
Interest expense will exceed tax revenue. pic.twitter.com/XO7FG3tC1L
— The Kobeissi Letter (@KobeissiLetter) April 15, 2023
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Who could have seen this coming? Not me. In 2010 I knew it was going to be real bad in an arithmetic way. Didn’t think of the geometric disaster coming our way. The miracle of compounding. I may not be the sharpest knife in the drawer but even I know “this ain’t good”.
First, I take exception to any chart that calls the DOD expenditures “national defense.” The country is most definitely NOT be defended against enemies foreign OR domestic. It should simply be called MIC welfare expenditures.
Catch 22. The real interest expense to the government is inflation minus the debt. So, by bringing inflation down , real interest paid to the public goes up. Conversely, inflation decreases the real interest rate (actually negative) paid to the public. This is why every government chooses to devalue its currency to the point of insolvency.
The government must choose between cutting other government expenditures if it wants to have a bond market at all.
But because those effects will happen before excessive inflation, the government always chooses devaluation and to destroy everything.
Human nature won’t change. So expect crash and burn.
For many years DOD spending has hovered around 1 trillion, yet this chart lists it as less than half of that. That’s not even including the security complex.
Or the numerous off-budget ‘black projects’, aka the dirty shit they don’t want anyone to know about. And easier to skim from, of course
I’d say at the current pace, we will pass $50 quintillion in US debt within the next 10 years, Zimbabwe-style.
What I still cannot track down is where the missing USD $12 trillion went from the REPO that ran from Sep 2019 to Jun 2020. Covid-19 under Trump is looking more and more not like the crime of the century but the crime of the millennium.
SARS-CoV-2 was cover to steal USD $12 trillion.
Where’s Foreign Aid & the Ukie Slush Fund on that chart?
Notice the intense fire/flames started with the period `Trump took office up until he left. Whut happened? We were raped at WARP SPEED.
The “money” is going to The Big Guy and his enablers..
Same as Trump enablers.
Same as.
Holy fucking shit. How come no one has pointed out what a load of fake bullshit was posted above? Seriously, if anyone knows anything about the fed tax/expenditure system, they would immediately have spotted the bullshit. From above:
“ The interest expense on this debt will be over $1 trillion per year, or 25% of the government’s current budget.
Interest expense will exceed tax revenue.”
First, the current federal budget was 6.27 trillion. Clearly, $1 trillion isn’t 25% of that. It is more l8me 15%.
Second, if interest is $1 trillion, it in no way exceeds tax revenue. Tax revenue last year was $4.2 trillion.
Yes, there is an ENORMOUS debt issue. But why do shitforbrains post such blatant bullshit? It is just narrative backed up by lies. The facts, as always, are scary enough without falsifying data.
What you’re supposed to get from that simple math is that if the debt underlying the budget isn’t supported by tax revenue, it means the bonds are worthless.
The Government’s ability to issue bonds will be impaired and the bond market will implode.
That was simpleton math, not simple math. What was said was outright incorrect. Why do that if it wasn’t to push a narrative? The data is bad enough. Simple would have sufficed. But no, the data was misrepresented. If the author cannot be accurate, then he shouldn’t be discussing this stuff.