The graph proportionately scales U.S. tax revenue and government debt outstanding data to Sam's current income of $100,000.
To further emphasize the growing divergence between tax revenue and debt outstanding, consider that debt grew by 6.26% and revenue shrank by 6.03% over the last year.
Over the last five and ten years, tax revenue increased annually by 2.22% and 2.09% respectively, while debt outstanding increased by 4.69% and 8.37% annually.
In the third quarter of 1997, the interest expense on $5.413 trillion of debt was $367 billion.
In the third quarter of 2009, the interest expense was an identical $367 billion despite outstanding debt more than doubling to $11.909 trillion over the prior twelve years.
The Congressional Budget Office expects government debt outstanding to rise by over $1 trillion per year for each of the next four years.
Given the outlook for rising debt and flat to rising interest rates, interest expense will continue to make Uncle Sam's financial problems even more daunting.
https://www.zerohedge.com/news/2018-08-29/running-empty
To further emphasize the growing divergence between tax revenue and debt outstanding, consider that debt grew by 6.26% and revenue shrank by 6.03% over the last year.
Over the last five and ten years, tax revenue increased annually by 2.22% and 2.09% respectively, while debt outstanding increased by 4.69% and 8.37% annually.
In the third quarter of 1997, the interest expense on $5.413 trillion of debt was $367 billion.
In the third quarter of 2009, the interest expense was an identical $367 billion despite outstanding debt more than doubling to $11.909 trillion over the prior twelve years.
The Congressional Budget Office expects government debt outstanding to rise by over $1 trillion per year for each of the next four years.
Given the outlook for rising debt and flat to rising interest rates, interest expense will continue to make Uncle Sam's financial problems even more daunting.
https://www.zerohedge.com/news/2018-08-29/running-empty
No comments:
Post a Comment