Tag: government is broke

Government’s Worst-Kept Financial Secret (They’re Robbing Us Blind)

From Peter Reagan at Birch Gold Group

Summary

  • The Treasury has borrowed so much to cover its multi-trillion-dollar deficits that debt service payments are becoming the federal government’s largest expense.
  • Higher interest rates and high inflation can only decline when the government’s deficit spending ends.

Most governments spend more on critical services like defense and healthcare than on interest payments on debt.

But the United States government will soon be spending more on interest than on either of these other two important categories.

An article on the Axios website revealed that the government is on track to pay more than double the interest expense in the current fiscal year than it paid in 2021:

Continue reading “Government’s Worst-Kept Financial Secret (They’re Robbing Us Blind)”

This government is so broke, the police are going on strike…

Guest Post by Simon Black

Louis XV was only five years old when his great grandfather, the ‘Sun King’ Louis XIV passed away. The year was 1715, and France was nearly in financial ruin.

Louis XIV had spent the previous seven decades spending lavishly on everything from palaces to public hospitals.

All of that spending had turned France into the epicenter of western civilization. But unlike the Build Back Better bill, Louis XIV’s mounting expenses did not “cost nothing”.

The king ran massive budget deficits each year, and the French national debt kept mounting.

By the time his great grandson took the throne, the French treasury was spending more than 80% of tax revenue just to pay interest on its enormous debt.

Continue reading “This government is so broke, the police are going on strike…”