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Good evening.

In August, the US government took $307 billion in taxes and spent $687 billion, for a deficit of $380 billion. This works out to be an annualized deficit of $4.56 trillion.

Have an awesome weekend.

jimbocoin 🃏 1y ago 💬 1

Instead of talking about budget deficits in absolute terms, it would be instructive to frame them in relative terms.

That’s, how much, as a percentage, did/does the debt increase/decrease monthly/yearly etc. That way, we can compare apples to apples.

Today’s $380B and next decade’s $380B are worlds apart. But 10% is 10% year after year after year.

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Discussion

Aaron 1y ago 💬 1

$4.56T annualized deficit on $35.4T debt = 12.9% annualized debt growth.

jimbocoin 🃏 1y ago

Thanks! Is there a chart of this over time? Would be interesting to see the flow.