The US Treasury borrowed over $1 trillion during the July through September quarter that just ended. The national debt grew from $33.1 trillion at the end of Sept 2023 to $33.685 trillion today. They borrowed about $500 billion in 31 days.

All of the debt maturing is old debt that carried 1% to 2% rates, but it is getting refinanced at 5% rates.

Interest payments on the national debt will rapidly rise above $1 trillion annually. Interest on the national debt is larger than our very large defense budget, and it’s increasing.

Meanwhile, our borders are wide open to people who need a lot of money to survive, and they could be terrorists or criminals.

We plan to borrow $100 million for Hamas [Gaza], over $14 billion for Israel, and over $60 billion for Ukraine without offsetting any of it.

Our economy will collapse at some point. I’m not sure when, but it will.