Interest On US Debt Of $32.6 Trillions Reaches $970 Billions Annually In Q2 2023. Current Deficit Running At $1.39 Trillions In June 2023. Fed Is Operating At A Loss Of $82.683 Billions

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by Hephaestus4

Almost $1 trillion in interest payments now, compared to $1 trillion in debt from 1783 to 1981.

 

At $32 Trillion, Why Deficits And Debt Matter

Rising US debt and deficits are hindering economic growth. Despite the Keynesian theory advocating deficit spending to boost economic activity, the shift from productive investments to social welfare and debt service yields negative returns. This leads to an increasing reliance on debt to fuel growth, pulling resources away from investments to service debt and social welfare. To reduce debt to manageable levels, a $50 trillion cut from the current debt would be required, potentially triggering major economic downturns. Persistently high debt levels may result in frequent recessions, lower market returns, and a stagflationary environment.

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