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#federaldeficit

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Miguel Afonso Caetano

LoL - Where there's smoke, there's fire and we all know that for the foreseeable future the US will need to continue to buy lots of weapons to send for free to Israel :-D

"Treasury secretary Scott Bessent has insisted the US would never default on its debt as he sought to assuage Wall Street concerns over the state of the country’s public finances.

“The United States of America is never going to default, that is never going to happen,” Bessent told CBS’s Face the Nation on Sunday. “We are on the warning track and we will never hit the wall.”

Investor jitters over the size of the US federal debt have mounted as President Donald Trump has urged Congress to push through his “big beautiful” budget bill, which is expected to ratchet up the federal deficit.

Bessent dismissed concerns raised by JPMorgan Chase chief executive Jamie Dimon on Friday that the US bond market would “crack” under the weight of the country’s rising debt."

ft.com/content/9c652f09-cfca-4

Financial Times · Treasury secretary Scott Bessent insists US will ‘never default’ on its debtBy Myles McCormick
#USA#Trump#Debt
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Eric Maugendre

Government "deficit spending" is the nation-state creating money (out of thin air) and exchanging it.

The payroll tax (FICA) does not fund Social Security or Medicare. Like all other federal agencies, those agencies are funded by dollars created on purpose by the government (using laws from Congress) and placed in their accounts by the Treasury.

#FederalDeficit#fiatMoney#deficitSpending
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