Total debt went up from about 23T to 28T in CY 2020. I'm guessing it'll do the same in 2021 which means we'll be at around 33 trillion by december. I invest for inflation so bring on the spending! The dumber the government gets the more I make.
I read in several places that Yellen was reducing some cash fund from 1.6 trillion down to .5 trillion a few months ago. The article said the .5 trillion is actually the norm so it's not a like it's a big deal. So I'm guessing that 1 trillion is the reason we're not seeing the debt going up, yet.
I'm always watching the debt and usually the delta in total debt is 30-40% higher than the deficit. For example if the deficit for the year is 1 trillion the total debt will go up by 1.4 trillion. From what I understand this is because of some creative accounting where they don't count certain types of spending, they call it "off-budget".
But for Jan-Mar our deficits have added up to over a trillion (600+ billion in March!) but our total debt has stayed at 28 trillion. I heard that they are reducing the amount of reserve cash in the treasury by a trillion so maybe that's the reason? Anyway if that's the case that means that borrowing is going to ramp way up after they run out of excess cash.
Deficits:
https://fiscal.treasury.gov/reports-statements/mts/current.html
Total Debt:
https://www.treasurydirect.gov/govt/reports/pd/debttothepenny.htm
I choose rural over urban.
Tod, your post a few months ago bears repeating. You can't have a whole bunch of diverse people cramped into a small living area. The cultural, religious, ethnic, national, etc. differences don't hold.
Well, that wasn't your post verbatim, but I repeat the idea to as many people as possible.
Yup. And I'm sure that minimum tax will be "voluntary". That's the problem with socialism, everything has to be done by brute force. Meanwhile the socialists think they're kind and gentle.
Assuming the Netherlands allows everyone to vote, even those on welfare, it's almost a certainty that the rich are paying most of the taxes. It's basic math. Politicians want to get re-elected so they pander to the majority. If you take a million dollars from one voter and give that million to a thousand voters you lose one vote but gain 1000.
It depends on how people get rich. If they get rich from government favors then the cure is to stop granting favors. If they get rich in the free market then good for them.
As long as you're against stealing from the rich to "get even" then we may actually be in agreement. Stealing from the rich would include things like progressive taxation, antitrust laws, discrimination laws, wrongful termination laws, etc.
I remember a few years ago when some state added passports to the list of acceptable IDs. They claimed that was going to restrict voting rights because only wealthy white people have passports. Of course the problem with that "logic" was the passport was being ADDED to the list of acceptable IDs, not REPLACING the existing acceptable IDs. Duh.
I agree. The funny thing is that the Fed lowers rates by printing money, which in the long run makes rates higher since it devalues the dollar. It's like dumping gas on a fire, at first the gas smothers the fire a little then it rages out of control.
LOL!
The trick is to invest in stuff that goes up when the government does the wrong thing. That way you get happy instead of mad.
I'm rooting for as much govt spending as possible.
The funny thing is that 120 billion a month is more than they were printing during QE1,2,3 and it's now considered to be in "pause" mode.
We're still stuck at 28 trillion in debt. It hasn't gone up in about 3 months despite the huge deficits. As I said before, I think it's because the treasury is using up it's cash reserves. When that runs out I think we might get bigger moves in the long term treasury rates because the borrowing will go way up.
I know. Didn't it sound funny, hearing a politician, especially a democrat, saying all that stuff? Austerity!!! Spending Cuts!!! Wait what???
I thought he was going to blame it on "Greedy Big Business", that really threw me off watching that.
They're so dumb. Giving UBI to 600 people is just a tiny welfare program, not a test in any way of UBI. The problem is as soon as you scale it up and make it "Universal" it becomes impossible.
If you gave everyone in the US a measly 10K a year, that would be over 3 trillion! We'd pretty much have to eliminate everything else in the budget, military, social security, medicare.
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