It’s not official until it’s denied, they say. Well, what about when officials have to finally admit that things are destined for failure? What stage of the process is that?
The US Treasury Department’s 2023 annual report is crisp and clear and full of truly terrifying charts that absolutely must be at the front and center of every political discussion. The problem? Neither party is talking about them at all.
So, I guess we will.
The most alarming chart of them all, and there was quite a bit of stiff competition, was this one:
If you squint at it, you’ll notice that over the next 75 years, the Treasury Department and CBO calculate that the US will go from 100% public debt-to-GDP to 550%.
LOL
That is not going to happen. Somewhere between ‘here and there’ that model breaks violently. I submit it’s actually at or before 200% debt-to-GDP. In other words before 2050. At the latest.
So the US Treasury Department did something really unusual and sent out a stern warning. At least in bureaucratese:
“Current policy is not sustainable”
Yikes. That’s about as clear as it gets.
Meanwhile, all that excessive spending is resulting in excessive inflation which is killing off the dreams and hopes of the younger generation which is a moral generational sin as far as I am concerned. Can you imagine racking up debts going on vacations and then passing off those obligations to your kids and grandkids to deal with? Well, that’s what’s happening.
Politicians, such as Kamala, like to pretend that inflation is some sort of mysterious rise in prices that nobody can control, but inflation has always been understood as the outcome of printing and spending too much.
Quite amusingly, the Federal Reserve’s own series of produced comic books on money creation outline the exact reason you get inflation.
As we’re fond of reminding everyone, inflation is everywhere and always a monetary phenomenon. That’s a Milton Freidman quote, mostly (slight paraphrasing).
If you don’t believe me, or Milton, then how about a Fed comic book? 😉
In other news, the migrant crisis has more evidence showing up in long lines at benefit centers, Rob Reiner is a dummy, and the Secret Service is thinking of tossing another mid-level bureaucrat in their effort to avoid having any questions asked of their actual on-the-ground agents in charge. I wonder why?