MarkHarvey on Nostr: The interest expense to service outstanding debt will soon exceed $1 trillion in the ...
The interest expense to service outstanding debt will soon exceed $1 trillion in the US.
To put this into context: $1 trillion is greater than the $767 billion spent on defense in 2022, and more than double the $475 billion spent on interest expense during the same year.
The sharp rise in interest expense was directly caused by the rapid increase of interest rates from the Fed (from 0% to 5%).
Making this worse, the Fed is expected to raise interest rates a further 0.25% this Wednesday.
There is just too much debt. IMO we are in the beginning of a debt spiral. The only way the US can pay down it's debt is... by issuing more debt. Expect high inflation for a long time.
Published at
2023-05-01 21:58:08Event JSON
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"content": "The interest expense to service outstanding debt will soon exceed $1 trillion in the US. \n\nTo put this into context: $1 trillion is greater than the $767 billion spent on defense in 2022, and more than double the $475 billion spent on interest expense during the same year. \n\nThe sharp rise in interest expense was directly caused by the rapid increase of interest rates from the Fed (from 0% to 5%). \n\nMaking this worse, the Fed is expected to raise interest rates a further 0.25% this Wednesday.\n\nThere is just too much debt. IMO we are in the beginning of a debt spiral. The only way the US can pay down it's debt is... by issuing more debt. Expect high inflation for a long time. \n https://nostr.build/i/nostr.build_e25abe9d3c551e414a6147c082a109b9ee854e3d3c8f594d5363d5871e5f551a.jpg",
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