Re:U.S. National Debt Soars to a Record $22T
by 0x54D5 on Tuesday February 12, 2019 @05:46PM
(#19148446)
The math: We currently bring in 3.34 trillion in tax revenue per year. Our outstanding debt is 22 trillion with a yearly 2% interest payment of $440 billion.
If the debt hits 174.2 trillion (which is only x8 what it is now) then we will have to spend the entire budget just to make interest payments.
If we default the dollar is likely to collapse. The value of the US dollar is propped up by US Government bonds.
If the debt hits 174.2 trillion (which is only x8 what it is now) then we will have to spend the entire budget just to make interest payments.
If we default the dollar is likely to collapse. The value of the US dollar is propped up by US Government bonds.