The category called Intragovernmental Holdings, which I think is mostly composed of Treasury debt to the Social Security Administration, reached $6 trillion yesterday (10/3/19). It is real debt, since the SS taxes should only go to SS beneficiaries, but the Treasury took the funds and spent them and left an IOU.
When did it hit $5 trillion, and when was it $3 trillion? I first hit $5 trillion on 1/28/14, then it dropped back a little. It has been consistently above $5 trillion ever since 9/22/14. So it took about 5 years for it to add a trillion.
It first hit $4 trillion on 10/1/07. It hit $3 trillion on 6/30/04.
I think it will peak at some point and start to go down but I don't know what the peak amount will be or when that will happen. A wild guess - maybe at about $7 trillion in another 5 years, which is 9/30/2024.
No comments:
Post a Comment