In July, I reported that we had borrowed yet another trillion dollars. We do it so often that trillion just isn’t scary any longer. In this case, here we are just ten months after the last trillion dollar signpost, passing yet another. as we have just hit $23 trillion.
So here we are, facing the fact that the government under the Trump administration has borrowed $4,1 trillion. That is a 115% increase in the total debt.
We cannot borrow indefinitely, and that which cannot continue will not continue. What is going to happen when the lenders stop lending? I fear that we are going to find out.