The Congressional Budget Office said that the government budget deficit will be $1.4 trillion and a record-high $8.9 trillion of national debt is set to mature in the coming year - this means more than $10 trillion in U.S. treasuries are coming to the market in 2024.
Last year, Apollo reported $7.6 trillion in interest-bearing U.S. public debt to mature in 2023, representing 31 percent of all outstanding U.S. government debt that added upward pressure on rates.
Now in a year where geopolitical hotspots are on the rise, namely the Russia-Ukraine and Israel-Hamas conflicts that are currently expanding across multiple fronts, the ratio of the current U.S. debt pile to annual economic output.
Earle also said that it is understandable that repeated warnings about the increasing debt incurred by the government would fall upon increasingly "Disinterested ears." The Treasury Department said a series of routine financial transactions during the day pushed the debt total beyond the symbolic trillion-dollar barrier.
"Personally, I am inclined to guess that whatever the end game of skyrocketing government debt is, the U.S. is closer to it than to the beginning, but that too might be wrong," Earle said.
"In October 1981, no one would've believed that 15-and-a-half thousand days and $33 trillion in debt later there would still be a market for U.S. Treasury securities, or that the dollar would still be the global reserve currency." He suggested ignoring numerical benchmarks when it comes to borrowing.
Although only one-quarter of the government debt is currently owned by foreign creditors, the prospect of having our fates controlled by outside powers with interests that diverge vastly from ours should be menacing.
https://www.naturalnews.com/2024-02-14-debt-collapse-trillions-government-debt-to-mature.html
No comments:
Post a Comment