The US will need to print over $1T per year just to pay the interest. Since US Gross Domestic Product is roughly $25T that means that inflation will never be below 4% ($1T / $25T) until the US goes bankrupt. That number will grow substantially as we move forward.
Queue “Requiem for a Dream” music.
US Interest expense ~$1.1 trillion as of today. That's $250BN more than the Defense Budget; $250BN more than spending on Medicare, $200BN more than spending on health, and will surpass the $1.35 trillion spending on Social Security this year, becoming the single biggest outlay https://t.co/ljAQJi9fQ0 pic.twitter.com/jqGnVoSAPX
— zerohedge (@zerohedge) January 3, 2024
The reckless pursuit of inflationary policies threatens economic stability, burdening citizens with the consequences of irresponsible financial decisions.
h/t Tonight We Ride!