{"id":5276,"date":"2023-11-05T02:07:00","date_gmt":"2023-11-05T02:07:00","guid":{"rendered":"https:\/\/www.asadkarim.co.uk\/?p=5276"},"modified":"2023-10-30T22:14:41","modified_gmt":"2023-10-30T22:14:41","slug":"us-government-debt","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=5276","title":{"rendered":"US Government Debt:"},"content":{"rendered":"\n<p>Some interesting statistics we published last week from the US Treasury:-<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/10\/30\/treasury-to-borrow-776-billion-in-the-final-three-months-of-the-year.html\">Treasury to borrow $776 billion in final three months of year (cnbc.com)<\/a><\/p>\n\n\n\n<p>The US Treasury said it expects to borrow $816 billion between January and March. The announcement comes 10 days after the government said the fiscal 2023 budget deficit would be about $1.7 trillion.<\/p>\n\n\n\n<p>So in 2023 the US Government spends \u00a31.7 Trillion MORE that the US Government receives in tax revenue and thus bridges the gap by borrowings.<\/p>\n\n\n\n<p>Lets give some context to the level of the US Government spending:-<\/p>\n\n\n\n<p>The United States led the ranking of countries with highest military spending in 2022, with <strong>877 billion U.S. dollars dedicated to the military<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.economist.com\/leaders\/2023\/09\/28\/forget-the-shutdown-americas-real-fiscal-worry-is-rising-bond-yields\">America\u2019s debt<\/a>\u2014now $26 Trillion and growing\u2014also goes up. In the fiscal year ending on September 30th 2023, interest payments on America\u2019s debt totalled some <strong>$660bn<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.pgpf.org\/budget-basics\/what-are-interest-costs-on-the-national-debt\">What Are Interest Costs on the National Debt? (pgpf.org)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some interesting statistics we published last week from the US Treasury:- Treasury to borrow $776 billion in final three months of year (cnbc.com) The US Treasury said it expects to borrow $816 billion between January and March. The announcement comes 10 days after the government said the fiscal 2023 budget deficit would be about $1.7 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5276","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/5276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5276"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/5276\/revisions"}],"predecessor-version":[{"id":5277,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/5276\/revisions\/5277"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}