The overall figure is approaching $34 trillion, according to the Treasury
US national debt has continued to mount, jumping by $2.6 trillion in the six months through December to reach $33.8 trillion, according to the Treasury Department.
The Treasury indicated that factors such as tax cuts, stimulus programs, increased government spending, and decreased tax revenues have been driving up debt.
“The national debt just exceeded $100,000 per citizen,” Republican Congressman John James said last week. “This should send a message to the White House that this reckless federal spending is at a breaking point.”
The latest fiscal data showed that as of November 2023, it cost $169 billion for the US to maintain the debt, which equates to 16% of total federal spending.
Interest payments on the national debt are estimated to have surged above $1 trillion on an annualized basis as of the end of October, according to Bloomberg calculations based on US Treasury data.
According to Bank of America (BoA), public debt could surge by $20 trillion over the next decade. It is likely to grow by $5.2 billion daily for the next ten years, which would put it at around $54 trillion by 2033, BoA warned last month.
The US exceeded its debt ceiling, which was legally set at $31.4 trillion, in January 2023. After months of warnings of a potentially disastrous default from the Treasury, President Joe Biden signed a bipartisan debt bill in June that allowed the limit to be lifted until January 2025. This effectively permitted the government to continue unlimited borrowing through next year. Debt spiked to $32 trillion less than two weeks after the bill was approved, and has been piling up ever since.
FOR LAST MINUTE GIFTS
The situation has caused major international credit ratings agencies Fitch and Moody’s to cut their outlooks for the US this year.
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Trillions are thrown around like millions were not too many years ago. Who calculates numbers as huge as this? How could numbers a huge as this change so quickly in just 6 months?
In 2009, when we bought a new car (we thought before hyperinflation hit) the debt was unsustainable and yet, here we are, going into 2024, and everything just keeps rolling along!
I feel the same way. I’m utterly amazed that it has continued this long. For all we know it might continue another 10 years. And why not?
Just one word . . .
.
. . . Zimbabwe
If ANYONE thinks this can be paid back is insane.
It’s impossible.
This ends in chaos.
Ammo up.
Even if it does, it’s still unsustainable.
Yep. As long as everyone is in on the scam, the funny money at the casino will continue to be passed around. Perhaps until someone calls in the markers?
The money won’t buy anything, if there’s nothing produced to buy.
Japan is the model. They’ve made it 40 years doing this kind of thing.
Proof that debt doesn’t matter.
Maybe it doesn’t.
Why does scripture provide for jubilees?
“How did you go bankrupt?”
Two ways. Gradually, then suddenly.”
― Ernest Hemingway, The Sun Also Rises
All I know is, even Mount Everest is slowly turning into a beach, as we sit here, fiddling with our keyboards, while Mordor-on-the-Potomac burns through humanity’s accumulated wealth.
The pendulum returns. Change is the only constant. Flux, not stasis, is the rule. Nature abhors a vacuum. Fiat is a vacuum. Derivatives – what do they derive? Ones and zeroes make very thin soup. Even gold can’t buy anything, if there’s nothing to buy, because nothing’s being produced.
A trillion Zimbabwe bucks buy . . . a tomato . . . if there’s one to buy. If everyone lives off of credit, so that no one works . . . to produce tomatoes . . . are they truly leisure-class trillionaires, who doesn’t need to produce items to buy?
Vampirenomics 101 class: Tuition is due . . . bitchez . . .
Debt does matter . . . it’s one of Newton’s laws.
Does what happened to Zimbabwe surprise you? Are you really comparing America to Zimbabwe? Why did it happen so fast there and not here? Inquiring minds want to know.
You only argue on the speed, the time-frame; not the effect and result.
Re-read your own words, Mr. I Never Have Time nor Inclination to Do My Own Research.
Zimbabwe is nowheresville. America is higher up the vampire squid’s food chain . . .
Exactly. The U.S. Dollar is still the world reserve currency.
Right?
This week . . .
Wait ’til piles of BRICS mysteriously appear randomly . . .
To DV:
Yes, US dollar is still reserve . . . until the owners of the system which determines such things, decides otherwise.
The USA is a whale in the ca$ino . . . but it’s not the casino.
No Name…get a handle…you are worth following…
“Wait ’til piles of BRICS mysteriously appear randomly . . .”
Yep, just like those piles of BRICKS did in cities all over the country right after the George Floyd FF. Maybe this time cases of AK-47’s will suddenly appear close to the current invaders after the EBT cards take a break???
When does the cookie crumble?
The chickens come home to roost?
The curtail come down?
The real fleecing feces hit the whirling blades?
The inverted pyramid VERT?
May be these asshats at the top have an idea?
Maybe getting out of DEFAULT RISK (as much as possible) and into what has worked the last 5,000 years is a good move???
Then this flips as they TRY the Great Taking?
Click on to Enlarge
Mark- China is in a COMPLETE free fall right now, they are the only BRICS country that USED TO have some money. BRICS is a joke.
@ BL:
All centralized control is a joke. BRICS is only a way station. But it’s the station that the train to Davos is stopped right now.
Think as big as our ruler-owners do – like a good detective, putting himself into the mindset of the crook he’s pursuing.
While doing that:
“Beware that, when fighting monsters, you yourself do not become a monster… for when you gaze long into the abyss, the abyss gazes also into you.” ― Friedrich W. Nietzsche
Gollum is real.
BL,
Here is an economic recap that fits.
HOW CHINA’S ECONOMIC SLOWDOWN IS RIPPING ACROSS ASIA
I wouldn’t call the BRICS a joke but the entire world is heading into an epic Clash of the Titians (Biblical is a good word – it’s like Game of Thrones Evil Vs Evil as far as the West Vs. East/BRICS to me) and all I’m doing is everything I can to prepare to survive Level 1, Level 2, and then Level 3 chaos.
Already having had my ‘Come to Jesus meeting’ I’m good to go with the outcomes…just many loved ones to protect and hopefully provide for.
Example, wealthy guy just bought 22 acres one neighbor away from my farm/compound, and is furiously building a home compound (like me he has a long road in). Word is he is a good guy and a Prepper…so maybe the local tribe can expand? Arranging a meeting through a mutual friend soon. Mutual friend told him I was someone that would be good to know. Overland we could easily back one another up.
Mark- It’s like cancer, you either have it or you don’t. BRICS don’t even begin to have what it would take and suggestions otherwise is folly.
Thanks, Mark. My real name’s Al. I’ve been “Rube Goldberg’s Razor” here at TBP before.
Never mind the messenger’s name. The message is either true . . . or false. Mind the message. Brand names, such as “leader” or “.gov”, always convince people to “trust the science.”
Truth is truth. If a parrot says, “2 + 2= 4,” is it not true, because a bird uttered it?
But does the bird BELIEVE it, or even comprehend what it has mimicked? If you believe that, then Harvey Birdman is the lawyer for you!
Rube buddy,
I mean for time management’s sakes…many No Names only one Rube…limited time my friend…family, farm, prep…can’t hang like I use to…inbetween the Honey Do and the gotta get done…need to focus!
Good chit mun!
Tim, my friend, I suggest watching newly updated and technicolored videos from Berlin in the early 1930s. People dressed fancy and things were wonderful. Here’s one.
My inkling is, we will live to see the big bang.
You’ll be right some day. You can’t prove it. Just trust?
Global hegemony has perks.
Because they had the US dollar to use and it had value everywhere, and here they get to print as many free dollars as they want for as long as there are idiots that still take them.
Yep, I am down to as few digital dollars as possible but own a serious stash of real ones for a Credit Crash (no hundred dollar bills they will be the first to be outlawed all 20’s). Also like Constitutional Silver for future small purchases…calling them junk is the wrong label.
Test
It ABSOLUTELY doesn’t.
Not until it DOES matter and then it will be too late.
“How did you go bankrupt?”
Two ways. Gradually, then suddenly.”
― Ernest Hemingway, The Sun Also Rises
It was that final slug of whiskey that caused all of this. The first twelve were great and good fun . . .
Ralph Waldo Emerson’s essay, “power”:
https://quod.lib.umich.edu/e/emerson/4957107.0006.001/1:8?rgn=div1;view=fulltext
In chemistry, the galvanic stream, slow but continuous, is equal in power to the electric spark, and is, in our arts, a better agent. So in human action, against the spasm of energy we offset the continuity of drill. We spread the same amount of force over much time, instead of condensing it into a moment. ‘T is the same ounce of gold here in a ball, and there in a leaf. At West Point, Colonel Buford, the chief engineer, pounded with a hammer on the trunnions of a cannon until he broke them off. He fired a piece of ordnance some hundred times in swift succession, until it burst. Now which stroke broke the trunnion? Every stroke. Which blast burst the piece? Every blast. “Diligence passe sens,” Henry VIII.” was wont to say, or great is drill. John Kemble said that the worst provincial company of actors would go through
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a play better than the best amateur company. Basil Hall likes to show that the worst regular troops will beat the best volunteers. [1] Practice is nine tenths. A course of mobs is good practice for orators. All the great speakers were bad speakers at first. Stumping it through England for seven years made Cobden a consummate debater. Stumping it through New England for twice seven trained Wendell Phillips. The way to learn German is to read the same dozen pages over and over a hundred times, till you know every word and particle in them and can pronounce and repeat them by heart. No genius can recite a ballad at first reading so well as mediocrity can at the fifteenth or twentieth reading. [2] The rule for hospitality and Irish ‘help’ is to have the same dinner every day throughout the year. At last, Mrs. O’Shaughnessy learns to cook it to a nicety, the host learns to carve it, and the guests are well served. A humorous friend of mine thinks that the reason why Nature is so perfect in her art, and gets up such inconceivably fine sunsets, is that she has learned how, at last, by dint of doing the same thing so very often.
When will that be? The same time the Barillions die from the jibjab?
Change your handle to Difficult For No Reason.
Now.
(Honestly, you are right to always question.)
When BRICS+ completely replaces the USD as reserve currency, it will be too late and our governmental systems will go tits up.
I thought it was Brazilians that were going to die from the jab???
TN- Too late for what? The debt doesn’t matter, that some how ended up way down the page from Glock’s comment that debt doesn’t matter.
You explain how it actually matters and I’ll listen. Yes, there will be hyper and horrible consequences but the debt level is irrelevant.
Debt level matters, because nature abhors a vacuum.
NO, it doesn’t matter, the fiat is flaming out . That was lame.
The debt will continue to snowball until the U$D loses reserve status. THAT is when it will matter and be too late.
TN,
So, you agree? Debt doesn’t matter? It’s the power the currency has that matters. Reserve currency, THAT’S what matters. I do assume that it will end some day.
The debt will be the undoing of the U$D as reserve currency, so it DOES matter. It is all tied together and is part of the plan.
TN- The USD will flame out as worthless toilet paper……period. At that point the overlords will reset/replace it (UNDERLINE replace it) with a different fiat currency that revalues your money from worthless to value again. Any debt in dollars matters not at that point. The debt is will be over and done, finished, kaput, gone.
UK lost reserve currency status in the 70’s BFD, nobody fell apart, it was not the end of the world.
You can rest assured that oil will not be the main energy component in the future. So having to purchase oil in USD won’t matter, it hardly matters now. Me thinks ya’ll are stuck on reserve currency for the wrong reasons.
I don’t think it’s the debt that will cause reserve status to change. No, I think it will be because our military will lose the power to back it and/or another currency will look more attractive. I would have thought the system Russia(?) has been working on to go around the SWIFT system or whatever the BRICS are trying to do.
Just as I thought, you all don’t understand WTF “reserve currency” status actually is. Never mind.
Remember the quote from Dirksen back in the early 60’s?
A Billion here and a Billion there and pretty soon you are talking about real money
I think Sen. Dirksen said a 100k, not a billion.
In the early 60’s a Billion was an unconceivable amount of money. Today, it is just a rounding error.
Money has never been as important as we’ve all been led to believe.
We have passed the point of no return. The country is headed to a really bad place. BAD. The only good thing is that the most fit will survive and come out the other side. Load up on food and ammo. You are going to need it.
And water – the staff of life:
Good post….sending it to some who are in high risk areas and probably have no idea about some of these sources.
Depends, how long will the hot water tank, toilet tanks, water off canned fruit/veg really last? Better than nothing but not much.
“Better than nothing” is exactly what SHTF level is.
Again, depends how long you are out of water.
Of course a short term survival solution isn’t the long term answer…but it will keep you alive until you figure out your next move…and I know some this could help.
The few I’m sending this to are welome here if they can get here…they have already been here…and blood is always thicker than my wide and deep sources of limitless independant water.
(Unless you don’t have any)
Lets say you tap the sources the guy suggests and it last 3-4 days. It may or may not rain and with the chemtrail crap in the rain water you better have some state of the art filtration. Meh, I would venture forth to the warehouse districts and look for bottled water stashes. or anything you can drink to stay hydrated if you have no water for a long time. Most cities have rivers or bodies of water nearby. Filter some.
Always keep a Lifestraw filtration stick or two in your b.o.b.
Better safe than sorry AND it removes the need to carry your water with you.
The time to debate this was before “our” representatives in CONgress foist the “Federal” [sic] “Reserve” [sic] Act on America . . . a century and a decade ago.
“The US exceeded its debt ceiling, which was legally set at $31.4 trillion”
” legal” ha ha ha…how much space does that take up on on a gazillion byte hard drive?
It’s akin to hiding one’s cigarettes, but writing a note on one’s hand, as to their location.
Is that a lot?
No, say the experts.
QOTD
One more year until SSI benefits.
Will I ever see a nickel of it?
It’s hard to say. I’m 48, and I’m almost certain that I will never see any of the money that has been withheld from my wages during my working career. It’s a crime.
Vote for change.
/s
I quit playing that game long ago.
Tim,
they’ve been crying that bullshit since the 80’s as I recall. The ‘system’ will work till it don’t, all of the sudden. SS is akin to a lottery, better odds of getting hit by lightening than getting ‘your share’. It IS a failed program in that it requires an ever expanding herd of tax cows, ain’t happening! Why do you constantly hear of declining birth rates???
Peace, L
L – In Econ 201 (1972) our prof showed us how SS was the largest Ponzi Scheme in the world and actuarially bankrupt. He told us to not plan on it and if we got any, it would be bonus money. I am so glad I heeded his advice.
Econ 101 prof should have explained reserve currency status at the same time cuz he left you clueless.
I’m not at all concerned about getting “my share.” I would just like to be reimbursed for what has been withheld from my wages. It’s my money. I earned it.
At the end, they’ll try to take it ALL. Yours. Mine. Everyone.
Their last act is always to loot the treasury on the way out of Dodge. They have no intention of being guest of honor at a necktie party.
EWS,
Yes, you’ll see your SSI check. The problem will be it won’t buy anything more than a can of cat food.
It never f’ing did. That’s the dirty little secret. THEY planned your financial failure FOR YOU without your consent.
Steve Z- GOT GOLD? Nobody ever told you SS would be a complete retirement package, nor did they ever sell it as a inflation hedge.
That should reassure James
CBDC, SSI,…what’s in a name? Yeah. I think you’ll get something…if they let you live that long.
Sure you will, but it will not buy much.
Russia And China Eliminate Use Of Dollar In Trade
According to Russian Prime Minister Mikhail Mishustin, Russia and China have phased out almost all use of Western currencies, with almost all payments between the countries now carried out in rubles and yuan.
The Prime Minister made the statement while meeting on Tuesday with his Chinese counterpart Li Qiang, during his two-day trip to Beijing for a series of meetings between Russian and Chinese leaders.
Mishustin said, “We continue to increase the share of national currencies in mutual settlements. If in 2020 this figure was about 20%, then this year we have actually completely gotten rid of the currencies of third countries in mutual settlements.”
You ain’t seen nothin yet…I predict that in February we will see the FED melt the printing presses…the dollar is toast.
Your timing may be off but printing is going to happen. Probably they will print before the election. My timing may be off. They will print. Politicians always ALWAYS do.
Most of the “printing” is digital already.
For an easy segue to CBDCs.
If TPTB controlled demolition isn’t working well enough keeping Trump off the ballot and out of 1st place and the peeons in line they will have to resort to greater destruction pre election to maintain control. They can’t wait until the last minute if they think they could lose the election.
Yet the people still consider the government to be “sovereign” even with more debt than there is money? How long before you wake up and treat the bankrupted criminals as the deadbeats they are.
The criminals are packing up the sting operation and heading to their bunkers. We will be left with a world in complete chaos while they laugh their ass off.
Of what use was your list?
BL,
LinkedIn cofounder Reid Hoffman once told the New Yorker he estimates more than half of Silicon Valley billionaires have invested in some type of “apocalypse insurance,” like an underground bunker.
Shoot I put a bunker/tornado shelter in – in 2015…my wife and I actually got to hide in it from a tornado 14 months later…while a three person family was killed by that twister not far down the road. Then we built a house with a three room basement (one room is a complete cement bunker) in 2020.
I don’t think the ‘criminals’ are going to ‘safely’ experience what they think they are going to experience once the MAD MASSES cut lose…just saying.
I read one of their biggest fears are their own in house Mercenaries/Security turning on them! Those pesky Praetorian Guard do have an untrusty history.
(One fear I don’t have within my Tribe).
The Fakebook lizard man has had his compound covered by the media the past week or so.
https://www.wired.com/story/mark-zuckerberg-inside-hawaii-compound/
Yea TN, I saw that…the Data wanna be may think he is safe in his island bunker, but this isn’t a TV show…and I suspect many of these super wealthy demonic traitors may find out no amount of treachery and evil really buys safety or individual accountability
Most ultra elites bunkers are deep inside the mountains near New Delhi.
Costco Au bars back in stock. Just ordered two. Only $25 over spot price each, smokin deal! Item # 1748080
If it isn’t deliberate I don’t know what it is. So, more please, please, more. More! Another jerk-off war, let’s do Guyana maybe. But please, leave China alone, they make all our stuff. More money, print it up, digitize the shit, keep ‘er coming! We freaking BELIEVE in you all, you’re doing well by doing good, right! Right? Right?