$33.7 Trillion: Just a friendly reminder of where the U.S. debt stands

And it continues to rise year after year, month after month, day after day, hour after hour, minute after minute, second after second...

So, I just wanted to provide a friendly reminder of where the U.S. national debt is at. It’s $33.7 trillion, according to usdebtclock.org.

And, as always, there are no efforts to turn the ship around towards fiscal sanity.

Daniel Lacalle wrote for The Mises Institute:

“According to the U.S. Treasury, year-end data from September 2023 show that the deficit for the full year 2023 was $1.7 trillion, $320 billion higher than the prior year’s deficit. As a percentage of GDP, the deficit was 6.3%, an increase from 5.4% in FY 2022. This means that the United States will likely post the worst GDP growth excluding debt increases since 1929, or, in other words, that the country is in a recession disguised by bloated deficit spending….

There is no free government money. You wanted a stimulus check? You have high inflation and negative real wage growth. If the U.S. does not eliminate the deficit, it will put the U.S. dollar at risk.

It is not true that the deficit means more reserves for the private sector and more dollars for the world. The supply of U.S. dollars for the world should come from productive investment and private sector credit creation, not rising government size. Following the eurozone is a dangerous example and leads to poor growth and higher unemployment.

High public deficits mean lower growth, lower real wages, and more debt in the future. All of it leads to higher taxes and persistent inflation. There is no such thing as a balanced budget with ever-increasing government size and constant erosion of the private sector via higher taxes.”

But hey, there’s no worries. Janet Yellen tells us the economy is “doing extremely well.” And of course, we Americans can “absolutely” foot the bill for two simultaneous wars that have no benefit to the American people. Of course, two wars ignore the countless wars and conflicts and other meddling in the affairs of others that are constantly occurring with no attention paid to at all. However, war is our greatest export. So, we really don’t want to question that.

And of course, we have a brand-new Israel First Speaker of the House who is working hard to keep the war machine going.

So, just wanted to provide a friendly reminder. Feel free to go back to looking away from the financial iceberg we’re headed for.