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#usdebt

3 posts3 participants0 posts today

Analysis: "The Debt Scolds are Back. For Now."

What explains the renewed angst over government debt?

Maybe bcz:

*Musk keeps tweeting that “America is going bankrupt";

*House republicans are looking to raise the debt limit while enacting sweeping tax cuts & beefing up spending on borders, etc;

*U.S. Treasury's website uses inapplicable & reckless metaphors to “explain” the national debt.

stephaniekelton.substack.com/p

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The Lens · The Debt Scolds are Back. For Now.By Stephanie Kelton

Analysis: "The Debt Scolds are Back. For Now."

What explains the renewed angst over government debt?

Maybe bcz:

*Musk keeps tweeting that “America is going bankrupt";

*House republicans are looking to raise the debt limit while enacting sweeping tax cuts & beefing up spending on borders, etc;

*U.S. Treasury's website uses inapplicable & reckless metaphors to “explain” the national debt.

stephaniekelton.substack.com/p

.

The Lens · The Debt Scolds are Back. For Now.By Stephanie Kelton

Some ideas about lowering US debt from @pluralistic that add up to:

"$1.4215t/year without even breaking a sweat, just by tacking (some of) the country's worst looting and tax evasion." "There's plenty of scenarios where interest payments result in the remaining $580b/year in savings, bringing the total up to $2t." "Now, sucking $2t/year out of the US economy all at once..." would hurt the economy, so best to phase cuts in over time.

pluralistic.net/2025/01/27/bel

Concerned about the US debt dilemma—a ticking time bomb fueled by skyrocketing debt and potential foreign sell-offs. Despite Fed rate cuts, yields are rising, signaling market fears that Trump’s inauguration may bring aggressive fiscal shifts. Higher yields mean more expensive borrowing, deepening deficits, and a paradoxical cycle where efforts to stimulate growth could exacerbate fiscal woes. Are we nearing a point where the safe-haven status of US Treasuries unravels under mounting investor skepticism? The stakes are high for US debt sustainability. Thoughts?

In the wake of the latest update by the Congressional Budget Office (#CBO), showing a marked escalation in how far and fast #USdebt will rise, there are mounting warnings that it is sowing the seeds of another financial crisis.

#FinancialCrisis #USeconomy

US debt warnings grow louder - World Socialist Web Site

wsws.org/en/articles/2024/06/2

World Socialist Web SiteUS debt warnings grow louderQuestions are being raised in media and financial circles about who is going to buy the Treasury bonds being issued to finance the growing government debt.

IMO, this guy seems to be the king of "Don't worry about it. Your overlords are in control." Look, I agree with the idea that the fat cats live by a different set of laws and expectations than the common person. They can steal, kill, and destroy and never get punished. They don't have to use moral hazard. However, that does not mean that the bill will not eventually come due.

medium.com/@sara_causey/the-fa

Medium · The fat cats believe YOU ruined the economy! - Sara Causey - MediumBy Sara Causey

Finally started findingmoneyfilm.com. Got interrupted by company arriving early so I’ll have to finish later. However I’ve got to share this:

#Biden economist Jared Bernstein at about 10:45 seemed legitimately confused about whether #UStreasury #bonds are lending or borrowing! Flummoxed. Looked like he’d taken a 10mg edible because he’d forgotten he had an interview scheduled.

findingmoneyfilm.comFinding the Money – There's another side to the national debt.

The growth of US debt, coupled with the instability in the financial system, is starting to raise questions about the role of the dollar as the global currency, the maintenance of which is an existential question for US hegemony.

#USdebt #DollarCrisis

wsws.org/en/articles/2024/03/2

World Socialist Web Site“Unprecedented” growth of US debt could bring market shockThe Congressional Budget Office director has warned the US could face a Liz Truss style financial crisis.