{"id":37502,"date":"2018-09-08T11:39:51","date_gmt":"2018-09-08T16:39:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37502"},"modified":"2018-09-08T11:39:51","modified_gmt":"2018-09-08T16:39:51","slug":"u-s-government-financial-balance-sheet-one-step-closer-to-blowing-up","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37502","title":{"rendered":"U.S. Government Financial Balance Sheet One Step Closer To Blowing Up"},"content":{"rendered":"
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U.S. Government Financial Balance Sheet One Step Closer To Blowing Up<\/a><\/h3>\n<\/header>\n
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The U.S. Government\u2019s balance sheet is one step closer to blowing up as its debt, and interest expense hit new record highs.\u00a0 And when I say \u201cnew record highs,\u201d I am not exaggerating.\u00a0 It\u2019s been a while since I checked the data on the TreasuryDirect.gov website, but when I researched the figures for this article, I was quite surprised by just how quickly the numbers are rising.<\/p>\n

Thus, it\u2019s also no wonder the stock markets continue to grind higher and higher because, without the U.S. Government\u2019s unlimited check-writing ability, the markets would have collapsed years ago.\u00a0 So, to all the Keynesian\u00a0wanna-be\u2019s who believe the Central Banks can print our way to prosperity forever, please tap your shoes together three times and say, \u201cEverything will be okay because I have my 401k.\u201d<\/p>\n

Let\u2019s get started with the tremendous surge in the U.S. Government interest expense.\u00a0 Well, it seems as if things are really starting to get crazy at the U.S. Treasury when its interest expense in July jumped by a whopping 41% year-over-year<\/strong>.\u00a0 That\u2019s correct.\u00a0 The U.S. Government paid $40.5 billion in interest expense this July versus $28.7 billion for the same month last year.\u00a0 That is one heck of an increase.<\/p>\n

If we look at the following two tables, we can see that the percentage increase of the interest expense in July is much higher than the previous months:<\/p>\n

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The interest expense the U.S. Government paid in Apil, May, and June was up 22%, 28%, and 6% respectively versus the same months\u00a0in 2017.\u00a0 However, July was up 41% compared to July last year.\u00a0 Furthermore, total U.S. interest expense in 2017 was $458 billion while the amount paid this year is $455 billion and we still have two months remaining.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. Government Financial Balance Sheet One Step Closer To Blowing Up The U.S. Government\u2019s balance sheet is one step closer to blowing up as its debt, and interest expense hit new record highs.\u00a0 And when I say \u201cnew record highs,\u201d I am not exaggerating.\u00a0 It\u2019s been a while since I checked the data on the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[49,124,431,12073,827,843],"class_list":["post-37502","post","type-post","status-publish","format-standard","hentry","category-economics","tag-balance-sheet","tag-central-banks","tag-interest-rates","tag-srsrocco-report","tag-united-states","tag-us-government"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37502"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37502\/revisions"}],"predecessor-version":[{"id":37503,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37502\/revisions\/37503"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}