National Debt Climbs Over $800 Billion in Just Two Months -- Economic Collapse -- Stock Market Crash

The U.S. national debt increased by a staggering $814 billion between Aug. 1 and Oct. 6, according to Treasury Department data. That represents a 4% increase in the debt — in just a little over two months. As of Oct. 7, the national debt stood at $22.84 trillion and climbing. The National Debt Is Now More Than Ten Times Annual Tax Receipts. Welcome to The Atlantis Report. The Treasury Department is on a borrowing spree making up for a lost time. The national debt pushed through the $22 trillion mark in February but then held relatively steady for several months. This was not the result of sudden government frugality. It was due to Uncle Sam running up against the debt ceiling. That put the temporary nix on borrowing. But the bipartisan budget deal agreed to in July suspended the debt ceiling for two years and allowed the borrowing train to get back on the tracks. The national debt surged $291 billion in just one day (Aug. 2). This was the same deal that will increase discretionary spending from $1.32 trillion in the current fiscal year to $1.37 trillion in fiscal 2020 and then raises it again to $1.375 trillion the year after that. The deal will allow for an increase in both domestic and military spending. Apparently, the debt crossing the $22 trillion thresholds didn't set off any warning bells in Washington D.C. because there was virtually no attempt to rein in spending. According to the Congressional Budget Office estimate, the FY2019 budget deficit came in just a hair under $1 trillion at $984 billion. That amounts to 4.7% of GDP, the highest percentage since 2012. It would be the fourth consecutive year in which the deficit increased as a percentage of GDP. The debt-to-GDP ratio is estimated to have increased a hefty 26% over last year. The Treasury Department will release its official deficit numbers later this month. The deficit equals the amount of money the government spends over the amount it takes in through taxes and other revenue sources. The national debt is the amount of money the federal government has actually borrowed. If you're wondering how the debt can grow by a larger number than the annual deficit, economist Mark Brandly explains here. A Washington Examiner article on the 2019 deficit put things into perspective. The federal budget deficit is big by historical standards, and federal debt is expected to rise significantly in the years ahead, to the largest size relative to the economy since World War II. Economic growth is also expected to slow slightly in the years ahead. Federal Reserve Chairman Jerome Powell and other mainstream economists have said the government's fiscal course is not sustainable." [Emphasis added] Not sustainable. Last time I checked that means this can't keep going on and on. And yet Congress and the President just keep plunging forward, kicking the can down the road. There are some economists – i.e., Paul Krugman – who say we don't really need to worry about the debt because "it's money we owe ourselves." The Keynesian posterchild even called for more government spending to boost demand. Even setting aside the fact that the U.S. owes nearly 40% of the debt to foreigners, economist Robert Murphy shows that even if we did owe all of the money "to ourselves," it's still a significant problem. The out of control spending and spiraling deficits are concerning enough on their own terms, but they become absolutely horrifying when you consider that these budget shortfalls are happening during a period of economic expansion. You would normally expect numbers like this during a major recession. But perhaps the most striking aspect of the growing debt is the fact there really is no end in sight, and the U.S. has no chance of ever paying off the debt. The USA is being destroyed from within all in the name of Globalism, which is nothing less than mergers and acquisitions. Destroying the living standards and saturating the nation with foreigners is underway. Given past history, it is clear that at some point, this house of cards must come crashing down. The whole world is in trouble with - for now, and backed by military might - the $ U.S. is simply the least bad of the world's currencies. The interest paid on debt is to the bondholders, which includes foreign governments, Social Security, and private investors/institutions. The holdings of the debt change. Under Quantitative Easing, the bonds held by the central banks mean they receive the interest payments. The French back in the 1960s had such a system where the central bank created the money and lent it to the government. That is a far better system because then the government does not compete with the private sector to borrow money thereby reducing economic growth. U.S. debt CAN be paid off - but only in the case of a hyperinflation. It is easy to pay off trillions in debt when a loaf of bread costs hundreds of millions. Look at the recent history of Zimbabwe. The only problem is that when this occurs, no nation will accept $ U.S. We will be on our own, isolated in the global economy we seek to promote. Chaos will reign, and millions will starve. Not an attractive scenario. I can't help but wonder if the world as we know it is due for an apocalyptic disaster - an asteroid strike or such. The Power That Be are aware of this and have taken the trillions of dollars that are unaccounted for to build their underground bunkers, not caring about anything but their own survival. Debt and political corruption are inextricably related. Since no one is expected to pay the tab, corruption is wide open, full speed ahead. Congress will never address spending priorities as dictated by the stark reality of limited economic resources while they still have debt as a source of dollars to spend. They will keep spending until the Ponzi scheme collapses. Trump has already acquiesced to multiple debt ceiling increases without forcing Congress to live within its means. He could be part of the solution. But so far, he has only contributed to the problem. They shut the banks down and allow you to take out 100 bucks a day, and then they tell you that they are going to cut everyone's account by 45-60%. They take the money and slowly give back access to what's left. Taxes on the real property got through the roof, suicide rates skyrocket, old people eat Chinese made cat food, and the rest of us start a "victory" garden, so we have fresh fruits and veggies. And then there is The Ticking Time Bomb in the Debt Markets . I am more and more convinced the Debt Markets are about to blow up. It will start with a small wobble. Perhaps a small hint that anticipated global recession isn’t/won’t be so bad, or further acknowledgement Central Bank experimental monetary policy hasn’t worked and they won’t continue to slash rates and institute QE on every chill economic wind. Or maybe it will start with a trickle of investors looking to sell corporate debt, discovering just how illiquid the market is and panicking, causing a massive avalanche of bond misery. This Was The Atlantis Report. Please Like. Share. And Subscribe. Thank You.










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