On the recordNovember 13, 2023
It feels like it has been a while since we had these. I think it has been 6 weeks since I have been behind this microphone, 6 weeks since we basically shot ourselves in the temple and all the other craziness that went on. The amazing thing is in those 6 weeks, you would be stunned how much the numbers, the debt numbers, have moved against us. This is just a fascinating time. Think of this: within a month or so, we have actually been having to recalculate our projections of debt deficits and what was going on. If that doesn't give you a sense of this thing called interest rate fragility, basically meaning as interest rates go up it is consuming more and more and more of the available resources that you could have either put into your communities or maybe into military or other things. I am going to show you a couple charts in a moment. Interest, the Office of Management and Budget, Treasury just a couple hours ago did an update that shows that gross interest this fiscal year will not be the fourth biggest expense, it will be the second biggest expense. Social Security, interest, Medicare, defense. Now, that is a gross number, but we are going to talk about what gross and net means in the U.S. Government interest rate world. Let's actually walk through some of the parameters here. Once again, our basic rule is if you don't like math and don't want to deal with reality, please stop watching. This is our update from 2023. Mr.…
