Earlier today, CNBC’s Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:
We’ve added 60% to national debt since 2018. Germany – a country with major economic woes – added ‘just’ 32%.
Maybe it will never matter. Maybe MMT is real. Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.
I have no idea. Only time will tell. But it’s going to be fascinating to watch it play out.
He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River’s Eric Peters predicted this weekend for the coming “US debt sustainability crisis.”
This just goes to show that the federal government ( and many state and local governments ) have no concept of basic math. Can’t balance a check book.
Govt won’t be collecting ANY if Americans REFUSE to PAY !!!! Keep pissing them off with ILLEGALS & See !!!!!
And again, just have do you think Americans are going to refuse to pay taxes ?
If you get a pay check – taxes automatically taken out.
If you pay gasoline – taxes automatically taken out.
If you purchase anything from a store, restaurant – taxes automatically taken out.
keep waisting & giving away our money & we refuse to pay !!
Most of the new deficit is from us paying for other country’s wars and giving illegals what ever they demand.