Condor Resources Inc V.CN

RE:RE:RE:Fitch downgrades the US rating

[ANALOG GUY]

Crashcomingsoon wrote: One further point:  

• U.S. Government Has $17.5 Trillion In Debt To Rollover In 6 Years

and with rates currently at 4% on the 10Y bond, the iannual nterest on the debt is expected to reach $1 Trillion by end of 2023.

Yields Surge After Treasury Boosts Auction Sizes More Than Expected, Sees Debt Issuance Tsunami On Deck | ZeroHedge
Excerpt:
And while the endgame here is the first ever $1+ trillion in US interest payments which we expect will hit within the next 2 quarters.

 

1 Trillion a year in interest

"In the first nine months of the fiscal year, which starts Oct. 1, the U.S. paid US$652-billion in interest costs, a 25-per-cent jump from the same period the year before, driven by higher interest rates. In its downgrade, Fitch warned that, over the next decade, “higher interest rates and the rising debt stock will increase the interest service burden,” even as spending on social services for the elderly is predicted to explode."