US to hit debt limit on Thursday. FED promises special levers to keep US spending to avoid default. In 2023 the cost to service national debt to become the biggest expenditure, more than Social Security. Sound sustainable? But inflation is transitory…



The federal tax revenue / budget 2021:

Tax revenue: $4,714,000,000,000

Federal budget: $6,818,000,000,000

New debt: $2,104,000,000,000

National debt: $26,900,000,000,000

The numbers are so huge we can’t even conceive of them.

Seriously- our brains just can’t handle numbers that big…

1 million seconds would be just over a week and a half.

1 billion seconds would be almost 32 years.

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1 trillion seconds would be over 31 thousand years

So we delete a bunch of zeroes to bring it to household income levels-

Annual family income: $47,140

Money the family spent: $68,180

New debt on the credit card: $21,040

Outstanding balance on the credit card:$269,000

If you saw anyone running their finances like this would you say they were responsible with their money? Would you think that was a sustainable way to run a household? Wouldn’t you think “Wow, those people are about to go bankrupt spending like that…”


h/t  Qplus17


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