Money grows on trees. Sky is the limit LOL.




U.S. wraps up fiscal year with a budget deficit near $1.7 trillion,up 23%

The federal government wound up its fiscal year in September with a deficit just shy of $1.7 trillion, the Treasury Department announced Friday.

Wrapping up a year in which some thought the shortfall could exceed $2 trillion, the U.S. ended up with an imbalance of $1.695 trillion, up about $320 billion, or 23.2%, from fiscal 2022.

The huge deficit came as revenue fell by $457 billion from a year ago and expenses decreased by just $137 billion. Outlays for the year totaled $6.134 trillion.

The budget shortfall adds to the staggering U.S. debt total, which stood at $33.6 trillion earlier this week. The deficit level was eased some when the Supreme Court voided President Joe Biden’s effort to erase billions in student loan debt.

That number has swelled by more than $10 trillion since the first quarter of 2020, when the Covid pandemic hit and pushed the government into a spending spree aimed at making up for the damage done to the economy.

Of the government outlays last year, some $659 billion went for net interest on the accumulated debt, up from $475 billion in fiscal 2022.

Treasury Secretary Janet Yellen said the administration is “committed to addressing challenges to our long-term fiscal outlook” and pointed out several measures she said are going tobring down the deficit over the next decade.

“The U.S. economy remains resilient despite global headwinds,” Yellen said. “Previous expectations that the U.S. would fall into recession over the course of 2023 have not borne out.”

Financing the debt has gotten significantly more expensive over the past year as the Federal Reserve has jacked up benchmark interest rates in an effort to combat inflation. The central bank has raised its key lending rate by 5.25 percentage points, and Treasury yields have responded in kind. The 10-year Treasury note has been flirting with a 5% yield; it was less than 1% in 2020.

https://www.cnbc.com/2023/10/20/us-w...-trillion.html

scary chit.
srs
there are no sign of improvemnt
since 2008! just more debt and loans
and more devaluation into the ass.

$30,000,000,000,000


damn

The powers that be MUST have a plan. It's either switch to a totally new (probably global) currency and flip the world upside down or they're going full "you'll own nothing and be happy".

Something huge is coming.

Joe keeps writing checks he can't cash.




Biden seeks $105 billion for Ukraine, Israel, Taiwan, border security

https://www.cnbc.com/2023/10/20/bide...an-border.html

lol.

Can somebody explain to me the central bank / S&P / Fed Reserve and how it works?

It’s not like a Fkn Bank of America. The U.S. Government is the country. Will the central bank repossess the Statue of Liberty? How is defaulting dealt with? Everything we spend answers to a giga bank?

Moody’s cuts U.S. outlook to negative, citing deficits and political polarization

On Friday, Moody’s Investors Service lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength.

The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa.

“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,” the agency said. “Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.”

Brinkmanship in Washington has also been a contributing factor, Moody’s said.

“Continued political polarization within US Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability,” the ratings agency said.

https://www.cnbc.com/2023/11/10/mood...-deficits.html

the point is to drag the quality of life changes out slow enough to not cause unrest. Your kid's kids will still not know their head from their ass when they sleep in pods and eat insects like some sort of 5th element dystopia but without the tech.

Money printer go brrrrrr

the usd backs up the military, not the other way around boyo.

usa invented bitcoin