Debt Bombshell: U.S. Interest Payments Soar to $1.1 Trillion in Q1, Devouring 35% of Tax Revenue, Exceeding National Defense Spending. https://t.co/RP6i9KT6rV
Debt Bombshell: U.S. Interest Payments Soar to $1.1 Trillion in Q1, Devouring 35% of Tax Revenue, Exceeding National Defense Spending. https://t.co/RP6i9KT6rV
Yet America’s fiscal position is far more constrained today than ever before. The U.S. government is now in violation of Ferguson’s Law and is likely to move further beyond its crucial limit in the coming decades.
wsj.com
In the United States, we ran up unfunded pension deficits at many local and state funds, to the tune of $3 to $4 trillion and rising. We have a massive (multiple tens of trillions of dollars) bill coming due for Social Security and Medicare, starting in the next 5 to 7 years, that makes the current fiscal crisis pale in comparison.
Jonathan Tepper • Endgame: The End of the Debt SuperCycle and How It Changes Everything
Every year in the United States, we spend more than $10 billion on church buildings. In America alone, the amount of real estate owned by institutional churches is worth over $230 billion.