Wednesday, January 4, 2017

Happy New Year!

The national debt on 12/30/2016 was $19.977 trillion.  Almost $20 trillion.
One year earlier, on 12/31/2015, in was $18.922 trillion.  So it was more than $1 trillion higher.

This marks the 10th consecutive month (the first was March 31, 2016) in which the national debt was at least $1 trillion higher than the same point one year prior.

I still don't understand why the national debt doesn't matter.  We are either going to pay it back or we are not.  It seems like we are not.  Which means that we will default someday, in a hyperinflationary depression.  My last calculation for this doomsday event was 2039, and I will leave it there until the next recession, when I expect the deficit to spiral out of control again.

For all my doom and gloom, I don't expect a recession to hit this year.  I expect it to be in 2018.  So let's have a great year and see if Trump can fix this leaky boat before it sinks.

I don't expect to post very often this year, unless something really strikes my fancy.

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