Posted On: Monday - February 26th 2024 7:22PM MST
In Topics: Global Financial Stupidity Economics US Feral Government Taxes
The new pie charts are out! The new pie charts are out!!"
Your Peak Stupidity lead blogger here is not excited at all about actually working out the Feral Government income tax forms. However, it was mid-January, and I thought about my favorite part of the whole thing, which is the national budget income/outlay in the form of pie charts that's near the back of the 1040 instruction book.
This is "midterms" because it happened by chance that we've been looking at these every other year - the odd ones. See here - - here - - here and here.
Now, per long-term Peak Stupidity predictions and recent interest rate levels we've seen evidence of the financial SHTF already. I expected to see a fairly large piece of pie representing net interest paid on the (presently) $34,000,000,000,000 national debt. Wait, it's only 7% though. What gives? Ahaaa, I'd forgotten that these booklets show year-old data. Yes, those are '22 numbers. Those from '23 are gonna be lit! I'm (not exactly) looking forward to next January.
PS: That 7% of the $6.273 Trillion in outlays is $439 Billion. As paid on the $30.8 Trillion '22 end-of-year debt seen here, that works out to an interest rate of only 1.4%. Yeah, it's gonna be lit when the rates catch up with the Treasury Dept. and the FED.
Comments:
Adam Smith
Tuesday - February 27th 2024 12:25PM MST
PS: Time for another IRS Pie Chart!
https://www.usdebtclock.org/
$34,348,265,xxx,xxx is almost like real money.
1 million seconds = 11.5 days.
1 billion seconds = 31.7 years.
1 trillion seconds = 31,709 years
If the criminals masquerading as government starting paying down the debt at the rate of one dollar per second it would take them 31,709 years to pay down the first trillion.
America is so fucked... ☮️
https://www.usdebtclock.org/
$34,348,265,xxx,xxx is almost like real money.
1 million seconds = 11.5 days.
1 billion seconds = 31.7 years.
1 trillion seconds = 31,709 years
If the criminals masquerading as government starting paying down the debt at the rate of one dollar per second it would take them 31,709 years to pay down the first trillion.
America is so fucked... ☮️
Moderator
Tuesday - February 27th 2024 7:06AM MST
PS: I would also like to get my Deeelux apartment in the sky-eye-eye!
Thanks for the Devo, Alarmist. I'm listening know. I didn't know this one and really wouldn't have admitted otherwise at the time. The Greeks don't want no geeks or freaks.
Full disclosure: I was neither Greek nor freak, but slightly geek.
Thanks for the Devo, Alarmist. I'm listening know. I didn't know this one and really wouldn't have admitted otherwise at the time. The Greeks don't want no geeks or freaks.
Full disclosure: I was neither Greek nor freak, but slightly geek.
The Alarmist
Tuesday - February 27th 2024 6:04AM MST
PS
Before I die, I hope to get a piece of pie.
https://youtu.be/WbuVmYICG3Q
Before I die, I hope to get a piece of pie.
https://youtu.be/WbuVmYICG3Q
Yes, and hopefully the Administration would be able to arrange for a forbearance of the interest payment through the early portion of those 31,709, just until inflation makes the monthly payment worth less than a pack of gum, that is.
Or would that be a deferral - don't feel like looking into it just now.
Yes, the country is financially fooked, Adam.