Federal government debt to surpass the $1trillion mark by June 2023

[calendria]

 


Treasury is expecting gross federal government debt to surpass the $1trillion mark by June 2023 for the first time ever, with taxpayers spending more than $300billion on Covid stimulus measures since the pandemic began in March 2020. A greater supply of money has meant little return on bank deposits.


https://www.vox.com/22264268/covid-19-housing-insecurity-housing-prices-mortgage-rates-pandemic-zoning-supply-demand

The pandemic has seen soaring home prices and record housing insecurity.


Why Are Home Prices So Expensive Right Now? Real estate prices keep rising sharply, and for a few good reasons. There's a housing shortage in the U.S., and home prices seem to keep going higher and higher.
Why the housing market is booming in the Covid-19 pandemic - Vox

Covid-19 plunged the United States into a recession, leaving millions of Americans out of work and hungry. In the middle of this crisis, the housing market boomed.

Between September 2019 and September 2020, homeowners accumulated a collective $1 trillion in additional home equity. The exploding demand of the past year, in conjunction with a historically low supply of housing, has led buyers to desperately bid up the prices of available properties, sending home prices soaring.

The boom has been welcome news for homeowners (about 65 percent of American households are owner-occupied), but it’s troubling for the growing number of Americans who are being shut out of the housing market altogether.

In a new Urban Institute report, researchers found that if the country continues down the same road, over the next two decades the US homeownership rate is set to decline to 62.1 percent. The losses will be concentrated among younger people and Black Americans. When you break down the findings by age cohort, things look grim: Younger millennials will have a homeownership rate of 64 percent as opposed to the 72 percent of boomers who owned homes at their age. Further, the racial homeownership gap between Black and white Americans is set to increase among 55- to 64-year-olds from 28.9 percentage points to 33.3 percentage points.

[EmmetMertz]

The CBO said that deficit spending is needed to keep the economy operating at full capacity. I have to get bestwritingsclues now. The agency said that while U.S. gross domestic product (GDP) grew at an annual rate of 2 percent in the second quarter of 2019, it would have grown much faster if not for government spending restraint.

[dsawan]

pass stimulus checks and that may help to get people to spend

[ssarber]

Thank Biden. Passing out money like candy and wondering why we are in debt. Good grief.

[Donnamarg323]

Thank Biden. Passing out money like candy and wondering why we are in debt. Good grief.

DUH!!Thank Trump too.

TY Joe and Don

[cathy37]

Biden keeps sending more and more money to Ukraine while people in the United States are struggling to keep above their bills.  Everything is constantly going up which includes food, housing, and gas.

[fluffyubnny937]

It's easy to blame Biden, and he definitely is a part of the problem but lets not forget there were other presidents before him. Don't kid yourself and act like the US had zero debt and was running a budget surplus every year before Biden. Past presidents ran deficits too: Trump, Obama, Bush, Clinton, Bush Sr., Reagan, Carter, and....I think you see my point. Also the president is not the sole decision makers with the nation's budget, you also got hold Congress accountable.

[Donnamarg323]

It's easy to blame Biden, and he definitely is a part of the problem but lets not forget there were other presidents before him. Don't kid yourself and act like the US had zero debt and was running a budget surplus every year before Biden. Past presidents ran deficits too: Trump, Obama, Bush, Clinton, Bush Sr., Reagan, Carter, and....I think you see my point. Also the president is not the sole decision makers with the nation's budget, you also got hold Congress accountable.

Fluffy,U just earned your 1st thank you.

Jesus could be in office <actually he is now in a different form of government from heaven>and the Trump cronies would still complain and yet NOT see their guy might wind up in jail.

[ssarber]

Thank Biden. Passing out money like candy and wondering why we are in debt. Good grief.

DUH!!Thank Trump too.

TY Joe and Don

When Trump had interest rates at all time lows, 401K's at all time highs, energy independent, borders closed, and DIDN'T send money overseas or spend on stupid things like "green deals" I DiD thank him. Because he was a great president. Biden  and his cronies are running this country into the ground.

[Donnamarg323]

Thank Biden. Passing out money like candy and wondering why we are in debt. Good grief.

DUH!!Thank Trump too.

TY Joe and Don

When Trump had interest rates at all time lows, 401K's at all time highs, energy independent, borders closed, and DIDN'T send money overseas or spend on stupid things like "green deals" I DiD thank him. Because he was a great president. Biden  and his cronies are running this country into the ground.

2020 might go down as the worst year this country ever had.You gonna blame Biden for that too even tho Trump was president?LOL!!!

And then 1/6/21?

Come come my child!!!

There is even a topic on FC where 100,000 business closed down.

DUHHHHHH!!

[oldbuddy]

Whatever the outcome, I doubt if the solution lies in a forum of people scratching the ground like a flock of chickens looking for tiny morsels of grain to even survive. This country has come back from virtual extinction more than once and I am going to depend on those with a lot more education and experience than I have to lead that effort.

When push comes to shove, in two more decades I will be pushing 104 years and I highly doubt this will be the most important agenda on my table, so I wish you all the best of luck and hope my grandchildren will be in a good position to help.

[Donnamarg323]

Whatever the outcome, I doubt if the solution lies in a forum of people scratching the ground like a flock of chickens looking for tiny morsels of grain to even survive. This country has come back from virtual extension more than once and I am going to depend on those with a lot more education and experience than I have to lead that effort.

When push comes to shove, in two more decades I will be pushing 104 years and I highly doubt this will be the most important agenda on my table, so I wish you all the best of luck and hope my grandchildren will be in a good position to help.

Old Buddy,i confess i might be scratching the ground when i let myself get involved with this political BS.It just irks me the way Trump has brainwashed the brain dead.As i have said many times i dont vote and KNOW NOO man will solve earths problems.

I know you arent interested in the bible and believe in an after-life etc that the bible says only 144000 will receive heavenly life and God created the earth to be inhabited.Do you know what that means?It means he created  the earth for humans to live on it FOREVER under HIS rule.

But as the bible reveals there was rebellion in Eden and issues were brought up that could only be decided by time going offa the clock.

Well that time is about to expire and God will soon clean up this mess that he NEVER had anything to do with.The name Jehovah means "He causes to become"His purpose will ALWAYS be fulfilled and that was to have humans living on earth under his government and Jesus died to ransom the human race from the sin and death that A&E brought upon us.

Go look at history and see how ALL the world powers of men did.They all FALL cos the bible says "Man will always dominate himself to his own injury".

The great tribulation Jesus spoke of is around the corner.Just like Noah warned of a flood cos of a wicked human society Jehovahs organization for over 100 yrs now in 240 lands have sounded the warning how to survive it.

The pledge of allegiance will do you NO good!!!

Instead of spending hrs trying to make chump change take an hr to google how Egypt,Assyria,Babylon,Media-Persia,Greece and the Roman Empire were 6 world powers and the 7th one is the Anglo-American alliance...thats the USA and England.

6 have bit the dust.The 7th one shortly will too.

Even Germany tried to rule the world with Hitler.

To earthling man his way does not belong.He is walking even to direct his own step.Correct me O Jehovah.

Jeremiah-10:23

[ancmetro]

    Tax payers forgave the Federal Government a long time ago!

[oldbuddy]

    Tax payers forgave the Federal Government a long time ago!

Maybe you have, but this taxpayer sure has NOT. So in 2024 you can vote for Biden and I will vot for whoever else is running and take my chances.

[Donnamarg323]

Of course i dont vote.Im not sure Biden will even be alive in 2024 let alone run again.

I wish Pence would run and Trump wind up in jail.I think he might win cos of the way he stood up to that BS artist.