“How did you go bankrupt?” “Two ways. Gradually, then suddenly.”
~ Ernest Hemingway
The rising debt is a massive crisis. We are going into unsustainable debt, adding $500 billion monthly to the national debt. The interest for this year so far is $800 billion. The interest payment alone will be larger than our defense budget. We don’t have money to supply Ukraine and Israel with weapons, and we’d better stop trying to go to war with other nations.
US debt is up 54% in five years. The CBO estimates show a $2 trillion deficit this year. We are currently at 33.5 trillion in debt, and the Biden regime continues to spend. Two weeks ago, it was $33 trillion.
As the regime spends wildly, the world is de-dollarizing.
The Biden administration is looking to raise the debt ceiling again.
JUST IN: US National Debt is now up a massive $1.5 trillion since the debt ceiling “crisis.”
Over the last 3 months alone, the US has added $500 billion PER MONTH to the national debt, on average.
Over the last 5 years, US debt is up a whopping 54%.
Meanwhile, YTD interest… pic.twitter.com/oJ35FsuvO0
— The Kobeissi Letter (@KobeissiLetter) September 14, 2023
China is selling US government debt. The Fed is selling, and the Treasury Department is offering 500 billion dollars per month in liquidity.
Lending is so tight that nobody can afford a mortgage or car loan. Lending conditions will get so tight that consumers will be choked by high borrowing costs every way they look. As the US debates sending more of our dollars to Ukraine and Israel, it’s worth pointing out that Biden added another half-trillion to our debt in just 20 days. We now have more debt than the total economies of China, Japan, Germany, and the UK… combined.
“For those asking, it took the US until March 1975 to accumulate $500 billion in total debt. It has added more than that in the past 18 days,” Zero Hedge wrote on X.
We’re going to face an economic collapse.
We are now going to buy weaponry for Israel with no money. The White House also denies Iran is behind the Hamas attack in the face of glaring evidence.
Lee Smith believes that the White House denies Iran is behind it because they want Iran as a business partner. They’re protecting Iran., and aren’t supporting Israel. They want the ability to control Israel and impose a ceasefire.
In the meantime, we could find ourselves in another war we can’t afford.
Biden admin is denying Iran role because it wants to integrate Iran as US partner. Hamas attack is big embarrassment. US assets are deployed not to support Israel but to impose ceasefire should conflict expand to Hezbollah. Key Biden goal is to preserve Iran as partner. https://t.co/TYm3w5gGpe
— Lee Smith (@LeeSmithDC) October 10, 2023
The Debt Clock
https://www.usdebtclock.org/
The insanity that government debt is good for the economy has been a heresy adopted by most politicians since the misinterpretation of the great economist John Maynard Keynes. Put that together with a lack of common sense and we have a debt between 30-40 trillion with an interest payment of $1 trillion.
Think about it. $1 out of $6 paid is simply to pay interest and does nothing to retire the debt. What happened when interest rates go up. Remember the debt is increasing by $2 trillion or more per year. Think also about all the people who pay no taxes but are receiving a lot of our tax dollars, increasing the burden on those who work and pay.
The solution. Get politically active. In the current 2-party political system, that means join the Republican Party, wresting control from the RINO’s and giving us a future with real hope.
…of course a fairer way to look at it is that about $1 in $4 is interest on over-spending.
Obviously a crash is getting nearer. A social collapse may be imminent.