645 sats \ 0 replies \ @Gigachad 1 Feb 2023 freebie
I appreciate you pointing this out. Once your cashflow is incapable of paying any principle on your debt and you are forced to just cope with interest there is no way out. The only sources of capital governments have are taxation, borrowing, or inflating the currency. None of these will allow us to cope with our debt in America...
And worst of all a handful of people dove headfirst on behalf of the country. Gotta love federal headship...
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312 sats \ 0 replies \ @kr OP 31 Jan 2023
q2 2022: $650 billion
q3 2022: $750 billion
q4 2022: $850 billion
we’re getting close to a $4 trillion annual run rate for interest payments, while total revenue for the US government is only expected to be $4.7 trillion this year.
In other words, all the annual tax payments from all americans and corporations is barely sufficient to make interest payments on debt today.
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10 sats \ 0 replies \ @NorthKoreanHostage 31 Jan 2023
Maybe that was the reason we cheated for so long by keeping interest rates at zero for a decade.
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