Friday, September 13, 2024

Interest on debt surpasses $1 Trillion

Endgame: Interest On US Debt Surpasses $1 Trillion For First Time Ever, Exploding August Budget Deficit To Record High

Tyler Durden's Photo
BY TYLER DURDEN
THURSDAY, SEP 12, 2024 - 08:05 PM

2024 was the year when the runaway US budget deficit was supposed to gradually normalize, and after two crisis-years, the US was supposed to end its drunken sailor spending ways. And for a while there, it seemed touch and go, with the cumulative US deficit initially overtaking 2023 - forget about the batshit insane 2021 and 2022 when the deficit hit a mindboglilng 18% of GDP...

... before slowly easing back for a few months, only to sprint ahead  of 2023 once more in August...

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