SUSTAINABILITY!
This is an amazing number to watch in the next few years. Individual income taxes are about 1/2 of the govt revenue.
For February, the US govt collected $120 billion from individual income taxes. They had to spend $76 billion in February to pay interest on the nation debt.
— Wall Street Silver (@WallStreetSilv) March 12, 2024
Previously: You Won’t Believe What We’re Spending ONE TRILLION DOLLARS to Buy.
Of course, I wrote that piece back in August and we’ve added another $2 trillion to the debt in the seven months since — with another trillion due to be added in less than the next hundred days.