{"id":56978,"date":"2021-03-04T17:51:54","date_gmt":"2021-03-04T22:51:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56978"},"modified":"2021-03-04T19:48:46","modified_gmt":"2021-03-05T00:48:46","slug":"28-trillion-reasons-to-have-a-plan-b","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56978","title":{"rendered":"28 trillion reasons to have a Plan B"},"content":{"rendered":"
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28 trillion reasons to have a Plan B<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
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At the close of business on Monday March 1st, just a few days ago, the US national debt crossed $28 trillion for the first time in history.<\/p>\n

To the penny, in fact, the national debt hit $28,004,376,276,999.35.<\/p>\n

And bear in mind that figure doesn\u2019t include the $1.9 trillion in \u2018Covid stimulus\u2019 that Uncle Sam is about to pass, let alone all the other deficit spending that they were already expecting for this current fiscal year.<\/p>\n

So you can already see how the debt will quickly rocket past $30 trillion in no time at all.<\/p>\n

It\u2019s noteworthy that it took the United States more than two centuries to accumulate its first trillion dollars in debt\u2013 a milestone first reached on October 22, 1981.<\/p>\n

In those two centuries (74,984 days, to be exact), the US fought two world wars, battled the Spanish Flu pandemic, dealt with the Great Depression, waged Cold War against the Soviet Union, fought the Civil War against itself, put a man on the moon, etc. before breaching $1 trillion in debt.<\/p>\n

This most recent trillion of debt took a mere 152 days to accumulate.<\/p>\n

Think about that: nearly 75,000 days for the first trillion, 152 days for the last trillion.<\/p>\n

Even more startling, it was only September 2017 that the national debt first crossed the $20 trillion milestone.<\/p>\n

So when the debt undoubtedly hits $30 trillion over the next few months, that means it will have grown $10 trillion in less than four years.<\/p>\n

And there is absolutely no end in sight. The Treasury Department and the Federal Reserve are both in lockstep fanaticism: no amount of debt is too much, no amount of money printing is too much.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n

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28 trillion reasons to have a Plan B At the close of business on Monday March 1st, just a few days ago, the US national debt crossed $28 trillion for the first time in history. To the penny, in fact, the national debt hit $28,004,376,276,999.35. And bear in mind that figure doesn\u2019t include the $1.9 […]<\/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":[195,380,954,4267,7312,13127,827,15497],"class_list":["post-56978","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-government-debt","tag-money-supply","tag-plan-b","tag-simon-black","tag-stimulus-spending","tag-united-states","tag-us-federal-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56978","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=56978"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56978\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}