Interest On U.S. Debt Tops $1 Trillion
For The First Time
Breitbart Economy,
by
John Carney
Original Article
Posted By: Imright,
9/12/2024 9:18:22 PM
The interest burden of the public debt of the U.S. government has topped $1 trillion already this year, the first time interest costs have crossed the trillion dollar threshold.
In the first 11 months of the fiscal year, interest payments totaled $1.05 trillion, up 30 percent from a year ago, the Treasury Department said Thursday. This is the first time interest payments have ever climbed about $1 trillion.
Despite claims by President Joe Biden and Vice President Kamala Harris to have addressed the U.S. budget deficit, the deficit is up 24 percent in the first 11 months of this fiscal year compared with the previous period,
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Reply 1 - Posted by:
itsonlyme 9/12/2024 9:34:09 PM (No. 1794735)
"In the first 11 months of the fiscal year, interest payments totaled $1.05 trillion, up 30 percent from a year ago, the Treasury Department said Thursday."
September 10, 2024
"US Treasury Secretary Janet Yellen tested positive for Covid-19 after experiencing symptoms, a spokesperson said in a statement Tuesday."
Janet " Yodelayheehoo" Yellen
Janet Louise Yellen
August 13, 1946 (age 78)
4 people like this.
Reply 2 - Posted by:
Catherine 9/12/2024 9:34:59 PM (No. 1794737)
And we just sent another $100 billion to Ukraine.
10 people like this.
Reply 3 - Posted by:
hershey 9/12/2024 9:55:47 PM (No. 1794745)
Every government bill should stand on its own...NO more 'inclusive' bills with PORK inserted...time to cut off the pig trough...
8 people like this.
Reply 4 - Posted by:
Timber Queen 9/13/2024 12:25:55 AM (No. 1794807)
I remember at the start of the Tea Party, back in 2009, one of the driving issues was the total national debt had reached $1.7 trillion. Who would have believed that just 15 years later that same figure would only be the interest on the national debt? This election is for the survival of America. Pray hard, patriots, that eyes will see and ears will hear. Pray that God will have mercy on us and bless America one more time.
MAGA! TRUMP-VANCE 2024
8 people like this.
Reply 5 - Posted by:
JimBob 9/13/2024 1:11:12 AM (No. 1794820)
Vladinir Lenin said that
"The Surest Way to Attack the Capitalist State is to Debauch the Currency."
.... and the HairSniffer and his Communist Democ'RAT 'Comrades' are doing just that!
5 people like this.
Reply 6 - Posted by:
kono 9/13/2024 2:15:28 AM (No. 1794828)
Didn't we cause the Soviets to spend into oblivion in the '80s? That might make this cruel irony, if Commies are now doing the same to us.
3 people like this.
Reply 7 - Posted by:
mifla 9/13/2024 6:02:01 AM (No. 1794860)
When our finances collapse, the millions of people who routinely have their had out for government checks are in for a rude surprise. Then the stuff will really hit the fan.
2 people like this.
Reply 8 - Posted by:
watashiyo 9/13/2024 7:01:29 AM (No. 1794891)
Who cares! We'll keep printing more money like a drunken sailor.
1 person likes this.
Reply 9 - Posted by:
Krause 9/13/2024 7:05:23 AM (No. 1794896)
Another impeachable offense, along with opening the borders, and general incompetence and corruption.
2 people like this.
Reply 10 - Posted by:
smak90 9/13/2024 7:27:21 AM (No. 1794904)
The US dollar will become worthless when this is over no matter who is the president. If you have savings best to put some of it in physical assets like real estate, precious metals or collectibles. There is no way the fed can fix this when every decision they've made for the last 100 years has been wrong.
2 people like this.
Reply 11 - Posted by:
franq 9/13/2024 9:09:10 AM (No. 1794971)
I'm not a Nobel-winning economist, but this does not seem sustainable.
0 people like this.
Reply 12 - Posted by:
JackBurton 9/13/2024 11:04:29 AM (No. 1795039)
If inflation drops under Trump, rates will drop. THIS will drop.
Elect Trump.
The trick is to hold the growth of the money supply to the growth of the economy. A growing economy needs money or deflation will result. Not that deflating food prices would be unwelcome. Instituting massive regulations while hamstringing businesses and printing lots of dough results in lots of inflation. But Elect Trump and have what we had under him for a good 3 years. (yeh, covid.)
0 people like this.
Reply 13 - Posted by:
Kafka2 9/13/2024 12:17:38 PM (No. 1795091)
At this rate, 24% over the same time last year, the interest on the national debt will equal the revenue from federal taxes. Increasing tax rates will only make matters worse because higher taxes means less money in people’s pockets to buy things, thus depressing the economy. The government will run out of “other people’s money.” Our problem is government is spending way too much money, not that they are not collecting enough taxes.
1 person likes this.
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