"Washington is hurtling toward a debt crisis" --CNN, September 29, 2023

Last week the interest rate on the 10-year Treasury bond reached 4.5% for the first time in 16 years.

Democrat: "BOR-ing!  Why you run stories dat haz numbers in 'em?  No like!  Gib us stories 'bout dat hot crazy Taylor Swift, or AOC!"

Hey, just go kill yourself, moron.

For one thing, this 16-year high will raise the cost of home loans, car loans and business loans.  Of course you knew that, right?  But the far bigger problem is that this 16-year high in interest rates will drastically increase the interest the gruberment must pay every year on our $33 TRILLION national debt.

"So how much annual interest are we talking about," you ask?  Almost $700 billion per year.  Close to what we spend on the entire defense budget.

Here's why: In 1990 the total government debt was around $5 trillion.  Now it's $33 TRILLION.

In 1990 if the gruberment had spent, say, $300 billion more than it took in, most folks would be screaming for impeachments.  But today the government spends two TRILLION more than it takes in...and everyone yawns, including the people you thought were smaht and running things.

If dey so smaht, why dey do dis, eh?  Of course there's a reason: spending programs bribe voters by giving 'em "free shit."  Oh, and fund graft and "earmarks" (the money-pot funding kickbacks).
 
Even if the morons in DC don't add a single new federal "mandate" (spending program) in the next 30 years, the government will have to borrow $119 trillion over that period.  And of course they will always add new spending cuz that's what keeps the campaign donations and votes rolling in!

If the total debt reaches the projected $152 TRILLION in 30 years ($119 T plus the current $33 T), at that point the nation will be having to spend one-third of all federal taxes just to pay the interest on the national debt!

Starting to grasp the severity of the problem yet?  Nah, didn't think so.

Even the smaht guy who wrote this piece for CNN ended his piece with "The debt party is over."  Problem is, it's not over.  Indeed, there is no sign whatsoever that any congress will ever reduce federal spending to anywhere close to federal revenue--which means the debt and interest will keep increasing.

Seriously, these stupid bastards won't even stop giving every illegal invader $2,000 per month, plus housing, food and "free" medical care, so what makes anyone think they'll cut anything, eh?

I've been trying for 20 years to educate you people, with no detectable results.  People just don't seem to care about problems that only seem to involve numbers.  And then there's a thing called "normalcy bias" that says people are totally confident that tomorrow will be virtually the same as today, forever.

Barring a genuine miracle (congress ending deficit spending), the U.S. is doomed as surely as a jet that's run out of fuel.  But since that will mainly affect your children, who cares, right?  Your inaction is dooming your children and grandchildren as surely as poisoning 'em.

I'm starting to think you people aren't worth saving.

Source.

https://www.cnn.com/2023/09/29/opinions/federal-debt-interest-rates-riedl/index.html