I am little worried about the all this debt that’s in the system. The US simply does not have enough money to even pay off the interest on its debt. The outstanding US debt is $30T
You can checked it out at https://www.cbo.gov/publication/58340
https://usdebtclock.org/
$4.8T in taxes - $3.7T in entitlements/obligations - $800B in defense spending = $300B for interest expense
We current owe $400B in interest annually. $300B - $400B= -$100B
The debt is maturing and we will need to refinance. If we rolled over the debt at only 3%. The interest payment on $30T loan is $1T. That’s not good.
Here’s a thread from Twitter talking about it:
https://twitter.com/jameslavish/status/1562078782453792768?s=21&t=q-dug00aXcfM8OxkwMfe6Q