US Government Now Borrows More than the Entire Financial Sector

[midas]

 Staggering!

 

Quote

 

Since the 2008 financial crisis, the US federal government’s debt has nearly tripled. The federal government has overtaken the household sector, the business sector, and the financial sector, to become the largest borrower in the country and world, even when excluding over $5 trillion of intragovernmental debt that the federal government owes to itself.

With the benchmark US 10-year treasury breaking above the critical 3% level for the first time in years, the 35 year bond bull market may be ending. With the federal government already spending 14% of its revenues servicing the national debt, with budget deficits expected to balloon further in the next few years, and with the Federal Reserve reducing its bond purchases, the federal government is not well positioned to cope with the possibility of rising interest rates.

 

http://thesoundingline.com/us-federal-government-biggest-borrower/

Quote

 

 

 

[BuaBS]

Many of us are waiting and hoping for the collapse of the financial system that allows these kinds of massive debts. But it seems that printing money out of nothing can go on forever if you're a big country with big military.

[lannarebirth]

On 4/28/2018 at 7:35 AM, BuaBS said:

Many of us are waiting and hoping for the collapse of the financial system that allows these kinds of massive debts. But it seems that printing money out of nothing can go on forever if you're a big country with big military.

 

Many others of us are waiting for higher yields.

[Berkshire]

What's even more staggering is even with this backdrop of massive US debt and budget deficit, our idiot lawbreakers saw fit to increase this debt even more by cutting revenue, i.e., corporate taxes and giveaway to the wealthiest Americans.  The US debt has nowhere to go but up, but mark my words, our do-nothing Congress will seek to hurt as many Americans as possible by screwing around with Social Security, pensions, and other entitlements.  They created this mess, the American taxpayers will pay for it.