US interest payments on the debt reaches $1 trillion

I'm so proud

https://finance.yahoo.com/news/us-debt-interest-payments-surge-230622362.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEyO8V_Nt3gHU8H1UC_Xswpnt6GfknMCc3CXcSvmNQOd9ZWg8P34aSwVdIjDmdPWpUDxNFz36181SXbB09CVYjdFKPLbGbC3ln3Knto4NK3mlN_fhyCjLsiEQP1Uljb9vM2NzGF8ekjskXeZ7ZCIEjJJ5FmqC287197hOIov1xDv

US annualized debt interest payments crossed $1 trillion in October, according to a Bloomberg analysis.

The cost of debt has doubled in the past 19 months as federal deficits balloon.

High interest rates have made borrowing more expensive, adding pressure on US debt.

The estimated annualized interest payments on the US government debt pile topped $1 trillion at the end of October, according to data analyzed by Bloomberg Intelligence.

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whowasthatmaskedman · 70-79, M

OK. Now lets keep this simple.. If you lived in a household and the interest payments alone on your cards and loans were more than your income for the year, so you had to borrow more just so you covered the interest, you know you would be in deep doo doo.. Right???😷

eli1601 · 70-79, M

@whowasthatmaskedman Always trying to to find the negativity in a momentous occasion, aren't you.

whowasthatmaskedman · 70-79, M

@eli1601 Yes Boris.. Arent you glad you get paid in Roubles???😷

TheOneyouwerewarnedabout · 46-50, MVIP

Time to stop giving billions away you’d think

Picklebobble2 · 56-60, M

And they say there's no growth anywhere in the western world.

Unprecedented times.

whowasthatmaskedman · 70-79, M

@Picklebobble2 Yes and no..In one sense it looks like growth. But only if you use $US as your yard stick. In reality the massive "quantitative easing" is finally catching up with the $US and the value is dropping. So the number gets bigger to represent the same value...And it has happened before, and worse, and if it gets worse its called "Hyperinflation".😷

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