The US Debt and the Near Future

[dellinger63]

What will the debt be in four more years, Twenty, twenty-five trillion? Surely, currently accepted statistics are wrong and the majority of baby-boomers have hit retirement age thus new recipients of social security and Medicare will decrease from here on in. No worries anyway, we can just borrow and print more money. BTW I wonder if in four years, if inflation hits hard, and interest rates soar, what the interest owed on the $25 trillion debt will be? I suppose as long as we keep former Goldman Sachs’ employees in charge of the Fed and Treasury it won’t matter, as they will artificially keep interest rates low and keep printing ‘mo money’. I wonder what Moody will rate us then? And even if interest rates rise to say 5% that’s only $1.25 trillion. A drop in the bucket.

The good news is we’ll have more taxpayers maybe even 10 million more or 150 million total. Divided up that $1.25 trillion interest payment comes out to only $8,333.00 per taxpayer, $22.83/day or $31.96/workday. No worries right? The treasury has trillions in it. The raising of the debt ceiling has nothing to do with the debt.

Maybe we should just bite the bullet and pay off the current debt. Divided up it’s only $114,000.00/taxpayer, only $313.11 per day. When you consider $25 trillion divided up among taxpayers four years from now, including an additional 10 million taxpayers, will only be $166,666.00/taxpayer or $456/day, paying it off now makes no sense.