In August alone, the deficit was $380 billion, in stark contrast to a surplus during the same month last year. The budget gap for the year has been exacerbated by a $319 billion accounting reversal from President Biden’s student loan forgiveness plan, which inflated the overall deficit. Treasury officials reported that the federal government has now spent over $1 trillion in interest payments, up 30% from last year.
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95 sats \ 0 replies \ @stack_harder 13 Sep
dont worry guys, according to the smart people at the central bank debt is actually very good and as long as we grow GDP and consumption infinitely without ever stopping, it's all good.
it's definitely not a ponzi that keeps destroying the quality of life and everything around it...
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43 sats \ 0 replies \ @Undisciplined 13 Sep
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43 sats \ 2 replies \ @beorange 13 Sep
Tough times ahead?
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0 sats \ 1 reply \ @Wumbo OP 13 Sep
"Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times."
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0 sats \ 0 replies \ @beorange 13 Sep
Wise words
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