The U.s. Is Set To Borrow More Money

Discussion in 'In the News' started by Don Alaska, Oct 30, 2023.

  1. Don Alaska

    Don Alaska Supreme Member
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    Maybe some of you economics gurus can help me understand this. Janet Yellen has just announced that the U.S. will borrow $786 billion dollars for the last quarter of 2023. She celebrated that it would be less than the just-over $1 trillion they borrowed LAST quarter. This isn't for the whole year. This apparently will only cover the last 4 months of the year if the wars don't get worse. It seems that in 2008, we had to borrow 700 billion or so to keep things from imploding. People thought that was an astronomical sum because it was just impossible. Now we are borrowing more than that on a quarterly basis just to cover debts. The only crises are mostly of our own making. I remember when the total Federal budget was less than a trillion dollars, but now that is the quarterly debt accrual.
     
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