The Crash Will Be Spectacular

November 23, 2023

by James Quinn The Burning Platform

“Interest on the federal debt is now so immense that it’s consuming 40% of all personal income taxes… If federal finances continue on their current path, we are only a few years from the entirety of income taxes being needed to finance the debt…”

The government collects $2.6 trillion of individual taxes at the point of a gun and threat of prison. Meanwhile they still operate at an annual deficit of $2 trillion. And this is before interest on the national debt starts to really skyrocket. Our Troll Secretary of the Treasury Yellen had the opportunity to lock in trillions of our national debt for 30 years at 2% rates, but purposely kept rolling it on a short-term basis.

Interest on the debt will surpass $1 trillion annually within the next year, and, as you can see, will be approaching $2 trillion per year in a few more years.