The National Debt is actually $123 Trillion

 See: https://www.truthinaccounting.org/library/doclib/Financial-State-of-the-Union-2020.pdf

"A new analysis of the latest available audited financial reports found the U.S. Government’s overall financial condition worsened by $9.84 trillion in 2020. Our measure of the government’s financial condition includes reported federal assets and liabilities, as well as promised, but not funded, Social Security and Medicare benefits. Our analysis includes $55.12 trillion in unfunded Medicare benefits and $41.20 trillion in unfunded Social Security benefits."

The total according to the above analysis is $123.11 trillion as of 9/30/2020 and this number goes up about $10 trillion/year.

The reason why the Treasury leaves these off the federal balance sheet is that Congress could pass laws to reduce or stop future benefits at any time.  But how likely is it that Congress would abolish Social Security and Medicare?  

The Budget Deficit for March 2021 was $658 Billion

The federal government incurred a deficit of $658 billion in March 2021, CBO estimates— $539 billion more than the deficit in March 2020.  The federal budget deficit was $1.7 trillion in the first six months of fiscal year 2021, the Congressional Budget Office estimates—almost $1 trillion more than the deficit recorded during the same period last year.

https://www.cbo.gov/system/files/2021-04/57018-MBR.pdf

I just wonder, have we ever had a monthly deficit of $1 trillion or more?  I don't think so, but it is coming.

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The highest ever was in June 2020 with $863 billion deficit, then April 2020 with $737 billion deficit.  March 2021 is the 3rd highest ever.

M5 for March 31 2021

M5 is a measure of money that includes M2, plus debt held by the public, less Treasuries owned by the Fed. Here is the current measure:

As of 3/31/21:

M2 (as of 2/1/21) = 19,669.8

Public Debt (as of 3/31/21) = 21,971.3

Fed Held (as of 3/31/21) = -4,942.3

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Total = 36,698.8

On 2/28/21, this was at 36,442.6 and on 9/30/20 it was at 35,296.8.  This is up 256.2 during February and up 1,402.0 fiscal year to date.  This is an annual inflation rate of 7.9%.

So actually I will call this SUSTAINABLE for the second month in a row.  If money supply only increased by $250 billion every month then I think we can live with the result.

But note that M2 is 2 months behind.  Obviously somebody at the Fed doesn't want to give the current numbers.  This was previously reported on a weekly basis.  And I am still expected a large jump when the stimulus financing comes in.