Trump fucking up the economy for generations
Rudy Canoza <[email protected]>
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As most people know, Trumpstein (the felon rapist insurrectionist pedophile) has
exploded the national debt to over $40 trillion, and is continuing to do so.
Servicing the debt (interest payments) now *exceeds* the defense budget by a
lot, and it's getting worse:
Fiscal Interest Defense
_year_ _payments_ _budget_
2025 $970.0 $893.0
2026P $1,039.0 $885.0
2027P $1,108.0 $901.0
2028P $1,218.0 $928.0
2029P $1,324.0 $938.0
2030P $1,432.0 $966.0
2031P $1,548.0 $986.0
https://www.visualcapitalist.com/america-spends-more-on-interest-than-defense/
And investors are starting to doubt the quality of the debt. The U.S. now pays a
higher interest rate on its 10 year treasury notes than nearly *all* other
developed economies:
U.S. 5.00%
Canada 3.87%
U.K. 5.29%
Germany 3.51%
France 4.56%
Italy 4.43%
Spain 4.00%
Netherlands 3.59%
Portugal 3.89%
Greece 4.30% Yow yow yow!
Switzerland 0.52%
Japan 2.95%
Australia 5.26%
New Zealand 4.92%
Singapore 2.41%
South Korea 4.46%
https://www.bloomberg.com/markets/rates-bonds
One function of interest is to compensate for the riskiness of the debt. The
less confidence investors have in the the ability of a country to repay its
debt, the higher the interest rate. The U.S. is now seen as riskier than all but
two of fifteen other developed economies.
Greece was a debt basket case within fairly recent memory (2011-2015). The EU
had to bail Greece out because they were about to default on their debt. Now,
even *Greece* can borrow at better rates than the U.S.
At the end of 2022, the year that saw the highest inflation rate of Biden's
presidency, U.S. 10 year notes were paying 3.88%
https://www.google.com/search?client=firefox-b-1-d&channel=entpr&q=what+were+international+10+year+government+bond+yields+as+of+dec+31+2022
Trumpstein (the felon rapist insurrectionist pedophile) fucks up everything he
touches.