Hello Guest, welcome to torrentinvites.org - Your #1 source for Torrent Invites!
CLICK HERE to register for free and gain full access to TI.org!
Torrent Invites! Buy, Trade, Sell Or Find Free Invites, For EVERY Private Tracker! HDBits.org, BTN, PTP, MTV, Empornium, Orpheus, Bibliotik, RED, IPT, TL, PHD etc!
2Likes
-
2
Post By sedna
-
sedna
Guest
US National Debt Hits $21 Trillion
For 8 years, we took every opportunity to point out that under Barack Obama's administration, US debt was rising at a alarmingly rapid rate, having nearly doubled, surging by $9.3 trillion during Obama's 8 years. It now appears that the trajectory of US debt under the Trump administration will be no different, and in fact based on Trump's ambitious fiscal spending visions, may rise even faster than it did under Obama.
We note this because as of close of Friday, the US Treasury reported that total US debt has risen above $21 trillion for the first time; or $21,031,067,004,766.25 to be precise.
Putting this in context, total US debt has now risen by over $1 trillion in Trump's first year... and the real spending hasn't even begun yet.
Chart
What is amusing is that Trump - who has a tweet for every occasion - and who no longer even pretends to care about the unsustainability of US spending was extremely proud as recently as a year ago by how little debt has increased during his term.
Trump Twitter post
We doubt today's milestone will be celebrated on Trump's twitter account.
And while some can argue - especially adherents of the socialist Magic Money Tree, or MMT, theory - that there is no reason why the exponential debt increase can't continue indefinitely...
Chart
... one can counter with the following chart from Goldman, which shows that if one assumes a blended interest rate of roughly 3.5% as the Fed does, and keeps America's debt/GDP ratio constant, in a few years the US will be in what Goldman dubbed "uncharted territory" and warned that "the continued growth of public debt raises eventual sustainability questions if left unchecked."
Federal debt
The bad news, however, is that debt/GDP will not be constant, as the CBO recently forecast in what was actually an overly optimistic prediction.
National debt as fraction of GDP
----------
Like someone said : "It seems that literally no one cares. And yet, one day it has to mean something."
Tags for this Thread
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules