Presidents Debt in a graph

[Omniscient]

I am glad you laughed at your own joke.

i laugh to keep my own sanity

its more of a joker laugh

 

[jpn]

I suppose we should start adding to the graph for Biden. This 2 trillion dollar spending bill theyre passing will be all debt. And thats on top of the already predicted 2.3 trillion in debt for FY 2021, though part of that happened under Trump too.
Deficits. CBO projects a federal budget deficit of $2.3 trillion in 2021
And of course its really Congresses fault, who is now majority Democrats.

"Fault?" This deficit-financed rescue bill is to their credit, not their "fault."
Any blame attached goes to the do-nothing Republicans who once again refuse to lift a finger to help the working class of America.

Long-term debt simply isn't much of an issue. Nothing at all compared to immediate unemployment and a pandemic.

Here's the CBO's projection of future debt as percent of GDP:

The increase is almost all due to their projection of interest. But that projection is based on pretty silly assumptions.

Here's the implied interest rate from their projection:


We haven’t see interest rates that high since before the late-2000s financial crisis. Here’s the 10-year rate, taking annual averages to smooth out wiggles, since 2000:


The CBO rate projection is also very much at odds with market expectations. As of the end of last week the 20-year rate was 2.18%, the 30-year rate 2.28%, suggesting that bond markets expect rates to be not much over 2 percent a generation from now.
The supposed conservative nightmare of debt piling up interest that creates an avalanche of more debt is just not supported by the data.