biden regime borrowed half a TRILLION in just the first 3 weeks of this month

With all the chaos around the world today, few noticed that biden's Treasury Department quietly admitted that the federal deficit for fiscal year 2023 was $1.7 trillion--a staggering 23 percent higher than the previous year.

Democrat: "Whut?  Hey, dat don' mean nuffin'!  Prolly not even true!  Yeh, dat it!  Disinformation!"

Take a wild guess how much we had to pay just as interest on our $33.5 TRILLION federal debt in FY23.  $879 BILLION, which is $100 billion MORE than our entire defense budget.  And brace yourself, cuz it's about to get a LOT worse. 

Of course you don't believe any of what you just read, because you didn't read it in the NY Times or WaPo, nor see it on the alphabet networks.  The Media hasn't told you, and you can't be bothered to do the tiny bit of research yourself, cuz why would you if you didn't suspect a problem?

In FY23--which ended September 30th--biden's experts in the Treasury Department predicted federal revenue would be $5 trillion--cuz, see, duh economy wuz BOOMING, right?  Oh sure, some right-wing extremists posted hours of cell-phone video of prime real estate in downtown San Francisco showing only one store open in six entire city blocks, but dat prolly fake newz, eh?

Well turns out the economy wasn't "booming" quite like the experts thought, so the revenue forecasts were just a bit...optimistic:  Actual revenue was $4.4 trillion.  But hey, only off by $600 Billion, so close enough, right?

But the huge, economy-wrecking bomb was that the biden regime spent a staggering $6.1 trillion in FY23--$1.7 Trillion more than it took in.

Democrat: "Deez numbers don't mean nuffin!  All good, woke pipo know numberz jus' a "tool of white oppression" an' don' mean squat, cuz maff beez raaaacist!"

Government spending is 38 percent higher than before duh plandemic.  Given that, how could the biden regime have recently bragged that the deficit is $1 trillion lower than when Biden took office, eh?

That's because the government spent vast amounts in 2020 to keep Americans from starving and losing their homes after every small business was shut down ("locked down") by power-mad Dem governors.

That unprecedented spending in 2020 should have been a one-time emergency, but when it ended, the Biden regime replaced the vast "emergency spending" with the Democrats' social agenda, making $6-trillion budgets the new baseline.

Worse yet, the $1.7-trillion deficit in FY23 was really a $2-trillion deficit.  The regime claims it was cut by $300 billion because the Supreme Court ruled that biden’s "student loan forgiveness" scheme was unconstitutional.

So that helped, right?  Nah, the biden regime  simply re-labeled the "loan forgiveness" scheme under a different title, and is now spending more than the previous estimate!  So note well: the Supreme Court said "Unconstitutional."  The regime said "fuck you, we're gonna do it anyway."

See, Democrats say they're all about "duh rule of Law"!

But wait...if the biden regime "only" spent a mere $1.7 TRILLION more than it took in in taxes and fees, why did the Treasury borrow $500 billion (for Democrats, that's half a TRILLION dollars) in just the first three weeks of the current fiscal year, eh?

Wait, y'say you nevah heard about dat?

Of course you didn't, sparky.  Cuz duh Mainstream Media din' want you to know.  Cuz dat might do two things they don't want: a) spook the stock market; and b) cost the Dems a few million votes as a few Americans woke up!  Can't have either of those, right?

Here's duh reason for the unprecedented borrowing:  As federal "notes" ("T-bills") issued a decade ago to borrow money then come due today, the government doesn't have the money to pay 'em off, so it simply borrows more money to pay off ("roll over") the older debt.  Got it?

Problem is, since Porridgebrain was installed, interest rates have risen wildly as the Federal Reserve tried to reduce record inflation--ironically caused by the regime printing too much money.  So as new debt at roughly 5% interest replaced 2% notes from a decade earlier, interest costs are starting to explode, and are now $100 BILLION more than the entire defense budget.

And that was last FY.  In the coming FY the government will have to pay over a TRILLION dollars just in interest on the nation's $33.5 TRILLION debt.

If you quickly realized this is obviously unsustainable, congratulations:  you're smarter than most of the congress and the regime.  But instead of trying to cut spending, the biden regime is doubling down, promising ever more government spending, with trillion-dollar-plus deficits forever.  And finally the financial markets are starting to wake up to the fact that even if the regime magically stopped spending more than it took in, interest payments would keep rising due to higher interest rates.

If you know recent history, you may recall that we've seen this happen to other countries in the last 30 years, and it's ugly.  You think the gruberment will stop spending a trillion more than it takes in, just because other nations will no longer loan us money?  I want some of what you're smokin'!  Politicians won't do any such thing, ever!

Instead they'll simply print trillions of dollars of paper currency so they can keep handing it out to voters.  And what do ya think that'll do, eh?

We actually know: If just small, it causes inflation.  If huge, it causes hyperinflation, which utterly destroys the value of all savings.

Of course if you're like most Americans you don't believe that.  So take a look at, say, Venezuela:  Until 1980 or so it had the highest per-person GNP in all of Latin America, but then because the socialist government started printing huge amounts of paper money, they got inflation of 10,000 percent per year.

That's not a typo.  Literally, 10,000 percent per year in some years.  Prices were tripling every month.

That wiped out all savings, because exponentially rising prices made saved money worthless in a single week.  A month's wages, a month later, would buy two eggs.  Not two hundred, or two dozen.  Two.  

Rising interest costs--rising exponentially--will eventually destroy the U.S. economy--and surprisingly quickly.

SO...with this as background, how do ya think the Treasury Department recently described the economy in its annual report, eh?

Why, as proof that "bidenomics" was absolutely faaaabulous, of course!  Dey say it "building the economy from the middle out and bottom up."

Seriously, they wrote that.

Since Biden took office the monthly mortgage payment on a median price home has more than doubled.  Forecasts are that it will cost the average family 25 percent more to heat their home this winter.  Rents are at record highs.  Credit-card debt--at staggering 18% interest rates--is at a record $1 trillion.  Great for banks, fatal for impoverished consumers.

But if you believe the regime, and their corrupt supporters in the Mainstream Media, the economy is absolutely BOOMING!  And those numbers you might have seen about the U.S. having to pay record high interest on the national debt?  Mere "disinformation," citizen.

"Trust us," say the Democrat-fellating Media propagandists.  "After all, we've never lied to you before, eh?"

Source.

https://www.foxbusiness.com/economy/treasury-dropped-financial-bomb-bidenomics-means-worst-yet-come