Interest On US Debt Passes $1 Trillion

Interest On US Debt Passes $1 Trillion

Dennis Miller

“In a year when the monthly budget deficit was meandering along in the merry Chernobyl way,…

Government spending went into absolutely epic overdrive, as outlays hit a mind blowing $686 billion, the highest since March 2023.”

“.… the cumulative total for Fiscal 2024…just hit an all-time high of $1.049 trillion.

…. But wait, there’s more: the latest numbers confirm that we are well on our way to hitting our other forecast…of the US hitting an insane $1.6 trillion in interest expense by the year-end.

…. In other words, game over.”

Birch Gold tells us:

“The Senate unanimously approved a resolution…calling the debt ‘a threat to the national security of the United States’ and calling expected future budget deficits “unsustainable, irresponsible, and dangerous.”

The Great Debate – the game continues….

Bill Bonner’s article, Time to get serious explains:

“Neither candidate has any intention of squaring off against the big spending, parasite elites.

• Neither will balance the budget.

• Neither will challenge the warmongers.

• Neither will suggest to the Fed that it leave interest rates alone, rather than encourage more borrowing with a lower Fed Funds rate.

The idea of avoiding bankruptcy or preventing WWIII never even came up in the Great Debate.”

RT Russian quotes Foreign Ministry spokeswoman Maria Zakharova, summarizing the Great Debate:

“Speaking on Radio Sputnik…she did not consider (the debate) a high-profile event. It mattered as much as the outcome of a hypothetical wrestling match on board the ill-fated Titanic….

‘Who do you think won? Why would that matter? The iceberg is 15 minutes away,’ she said.

…. She said neither Trump nor Harris intended to get to the wheel to change the course of the ship. America is on its way to a “total, global disaster” and the rest of the world is trying to prepare for it…. 

The debate itself…was a mixture of ‘fantasizing about the future’ and citing some facts about the past, with the candidates failing to agree on what those facts were.

‘We were given the latest show by people who apparently never ever take any responsibility for what they say.'”

Going down the drain….

The world knows what’s happening. Why would any country want to go to war when they see America and the dollar being destroyed from within. They don’t have four-year election cycles, they can wait; the US empire can easily crumble without firing a shot!

Nobody Gives A Damn….

…. Today’s relatively high interest rates affect much more than just current deficit spending. …. America doesn’t actually pay off debt, but only rolls it over. …. The Treasury simply issues new debt to cover repayment of what was originally borrowed, plus the accrued interest that’s due. How much debt is being rolled over in 2024? About $8 trillion worth.

…. We’re paying over $1 trillion a year just in interest on the debt.

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