While we were eating Turkey and watching football…

The fucking crooks in DC, busy bankrupting this country as part of the plan of destroying it the current president’s administration has been on, printed over $1 trillion of new money to pay off debt obligations on money they borrowed:

The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the government.

During those eight weeks, Treasury took in $341,591,000,000 in revenues. That was a record for the period between Oct. 1 and Nov. 25. But that record $341,591,000,000 in revenues was not enough to finance ongoing government spending let alone pay off old debt that matured. The Treasury also drew down its cash balance by $45.057 billion during the period, starting with $126,568,000,000 in cash and ending with $81,511,000,000.

The only way the Treasury could handle the $942,103,000,000 in old debt that matured during the period plus finance the new deficit spending the government engaged in was to roll over the old debt into new debt and issue enough additional new debt to cover the new deficit spending.

This mode of financing the federal government resembles what the Securities and Exchange Commission calls a Ponzi scheme. “A Ponzi scheme,” says the Securities and Exchange Commission, “is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors,” says the Securities and Exchange Commission.

“With little or no legitimate earnings, the schemes require a consistent flow of money from new investors to continue,” explains the SEC. “Ponzi schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out.”

If you or I, or for that matter any private entity tries to pay off its debts in this way, we will end up in jail. The government however keeps pretending money grows on trees so the political elite can keep their vote buying schemes and scams going long past the expiration date. And their mouth pieces in the LSM just go along because of Black Jesus and their allegiance to donkey dick. Socialism as practiced by the progressives is the bane of humanity and the harbinger of real dark times. Mark my words, but look at what many of them are doing.

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  1. Hal_10000

    I’m sorry, what’s the story here? That we rolled over a bunch of debt? The US does this to the tune of trillions of dollars every year.

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  2. Dave D

    This should be MANDATORY to post on each and every newspaper headline whenever it occurs. Should also be at the top of every facebook post, at the bottom of every reality TV show, and plastered all over the screen of every sporting event. Hell, plaster it on the weekly photos of Kardashian’s ass! Low information people need to be forcibly made aware of how bad the government is screwing with their future.

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  3. Dave D

    And they NEED to put it in terms that morons can understand:

    “With todays raising of the national debt, approved by YOUR elected officials, your personal share now amounts to $50,801 per person living in your household.”

    and make it clear that this amount is going up each minute and that NOONE else will EVER pay if off for you.

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  4. Xetrov

    The debt just passed $18 Trillion for the first time (http://www.treasurydirect.gov/NP/debt/current). Not that you would know that by reading any major news source that I can find. For reference, it was at just over $10 Trillion when Obama entered office (back when the chosen one thought Bush adding $4 trillion to the debt was “unpatriotic” – maybe he thought it wasn’t enough?). Yet somehow some people think spending under Obama hasn’t been too bad.

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  5. Dave D

    Xetrov:

    Just heard than on Levin while listening on my drive down to Cinci from Detroit. I had thought MAYBE we were up to 17 trillion by now but OMG!!!!!!! The rate of growth in the debt looks like it is growing exponentially.

    That means about $60K per living American. Do we make these “amnestized” illegals sign a sheet indicating they officially take on the individual debt?

    Also, I hear Levin (not always right, I guess?) state that ~8 trillion of this is on bHo and 4 is on GWB. Bush acts stupid and bHo doubles down. Man are we fucked!

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