Just in a email this morning
Dear Tom,
Nations and empires usually fall apart when the cost of servicing their debts exceeds the cost of defending their borders. This is a reality that financial historian Niall Ferguson has been warning about for more than a decade. Many ignored Ferguson when he highlighted this point at the 2010 Aspen Ideas Festival. Yet they should take note now that the United States has reached this tipping point.
The government spent over $807 billion in interest on the national debt during the first 11 months of fiscal year 2023, according to the U.S. Treasury’s monthly statement. Meanwhile, it spent $696 billion on national defense. That means debt repayment is 116 percent of military spending.
These statistics are alarming for a number of reasons. For one, since China owns about 2.6 percent of U.S. national debt, America has paid its greatest military rival $21 billion in interest payments this year. It is hard to defend vital trade routes like the South China Sea from a Communist superpower when you are bankrolling its military. But this concerning monetary transfer to China is not actually the biggest threat posed by America’s ballooning national debt.
look them up if this sounds real to you
https://www.thetrumpet.com/28316-ame...ST_EMAIL_ID%5D
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