Federal govt has *added* $20 TRILLION in debt *just since 2008*

Due to congressional and presidential stupidity and vote-buying, in the last three years the federal government has spent 30% more than it takes in in revenue from all sources--fueling inflation.

U.S. national debt has increased by a staggering $20 trillion just since 2008.  The government will pay one TRLLION dollars in interest in the coming year--up from $800 billion in FY 2023.

Now, does anyone think the corrupt sons of whores in congress will EVER stop spending that staggering 30% more than what the federal gruberment takes in each year?  Of course not.

No power on Earth can force them to cut federal spending to match income. Congresswhores don't pay any attention to what "the people" want.  What they pay attention to is what donors want, and what big "voting blocs" want.

That would be the teachers' unions, government employees and attorneys.

Try telling friends or relatives that there's no such thing as 'free.'  You'll get blank stares.

Try telling 'em "Spending more money by borrowing fuels inflation and makes everything cost more," and you get blank stares again.

"The federal government can't continue to borrow more and more money forever"?  Blank stares.

Tell 'em "If congress doesn't stop spending 30% more each year than it takes in, eventually the entire US financial system and economy will collapse"?  Blank stares.

It's like no one in the Media or congress or government understands math, or believes what the math says will happen.  Or they believe that before everything craters, congress will wake up and start to cut spending just in the nick of time.

Let's examine those points: First, since the math is quite straightforward, there must be at least a few government lackeys who understand it.  If so, why haven't they sounded the alarm on continued huge annual deficits?

Hahahahaha!  Because the cabinet minister who controls their promotions doesn't wanna know.  

Anyone recall the classic story called "The Emperor's New Clothes"?  No one in government is willing to say the obvious.  And of course congresswhores and the Media don't pay attention to anyone outside government *unless that person is pushing something the Media wants.*

Finally, about the laughable hope that congress will wake up five minutes before everything implodes:  Laughable indeed.  The government is literally afraid to stop funding Medicare, Medicaid, Social Security, food stamps, Section 8 housing and a hundred other costly programs.

Reducing funding for any of those programs--even by a tiny percentage-- would trigger riots, and would be a tacit admission that the great Welfare State was and is unsustainable.  So congress will continue to do what it's been doing for decades: continue to borrow over roughly two trillion dollars every year.

Problem is, not only does the tidal wave of borrowed cash fuel higher inflation, soon the government will have an increasingly hard time finding parties willing to loan the government money at a "reasonable" interest rate--which will fan the flames for even more inflation.

Democrat: "Dat totally ridiculous!  Ev'ry country is eager to buy U.S. bonds (i.e. to loan us billions), so we'll always be able to borrow at whatever rate we like!"

Really, sparky?  It's already happened.  Between July and October of 2023 the interest rate on 10-year Treasury bills surged from 3.5% to 5% --a 42% increase in just three months.  That set off alarm bells that the government was borrowing far more money than the markets wanted. It was a clear signal, but few Americans outside the financial world ever knew about that.

Then at the Treasury "auction" three weeks ago foreign buyers decided they didn't want to loan the government money even at the maximum interest rate the government was willing to pay, so Treasury had to order "primary dealers" (major U.S. banks) to buy billions in T-bills.
That's an unequivocal signal--huge (and unsettling) news on all the financial webpages.  Oh wait, dat right: y'all don't read those, cuz it's too esoteric.  ABCNBCCBS all ignored the story, preferring to distract you with crap about the Kardashians or screaming that Trump will destroy everything.  So you never heard about it.

So to recap:  three weeks ago foreign lenders sent congress a strong wakeup call.  Think anyone in that corrupt cesspool of morons got the message?

Hahahahahahaha!  Not a chance.  So what do ya think the result will be, eh?

It's certain: Hyperinflation.  If 7% didn't bet your attention, that's just the beginning: in Argentina inflation has been running roughly 140% per year, because their government was just as bad as ours.  If you claim that can't happen here, explain why.

Source.

https://1ft.io/proxy?q=https%3A%2F%2Fwww.semafor.com%2Farticle%2F11%2F28%2F2023%2Fnobody-wants-us-treasury-bonds