Premium Only Content
Biden's DEFAULT on HIM if he doesn't MAKE A DEAL!
If Biden chooses to default on the $31.4 trillion debt, it’s because he chose not to use ample revenue to pay interest on the debt.
https://dailytorch.com/2023/05/if-biden-chooses-to-default-on-the-31-4-trillion-debt-its-because-he-chose-not-to-use-ample-revenue-to-pay-interest-on-the-debt/
If the U.S. defaults on the debt on June 1, it will be because President Joe Biden chose not to make principal and interest payments on U.S. Treasuries out of existing revenue, for which there is more than ample revenues to service and refinance up to the current debt ceiling limit, $31.4 trillion. While gross interest owed on the debt in 2023 is $897 billion there is more than ample revenue at the U.S. Treasury to meet those obligations: some $4.8 trillion of taxes collected annually, according to the White House Office of Management and Budget. There would still also enough revenue to meet Social Security ($1.346 trillion), Medicare ($821 billion), Medicaid ($608 billion) and defense spending ($800 billion). Between the gross interest and these programs, that’s about $4.47 trillion out of the $4.8 trillion of revenue. That is, if President Joe Biden chose to make payments to them on a continued basis while he and Congress were still negotiating an increase in the debt limit.
-
41:17
Americans for Limited Government
6 months ago $0.08 earnedINFLATION DROPPING! Trump WINNING! And Congress Is STILL Panicking!
321 -
23:22
Stephen Gardner
1 day ago🚨BREAKING: Mamdani Won and What Trump EXPOSES About It is SHOCKING!!
10.3K91 -
1:16:41
Steve-O's Wild Ride! Podcast
18 hours agoAdam Ray Absolutely Kills Steve-O | Wild Ride #273
7202 -
37:22
efenigson
1 day agoWhat COVID Taught Me About Money & Control - Efrat Fenigson | Ep. 104
361 -
1:20:56
Dialogue works
2 days ago $0.47 earnedCol. Larry Wilkerson: No Way Out for Israel - Iran & Russia — NATO’s Worst Fear
20.3K7 -
10:37
TheSaltyCracker
16 hours agoMassive Brawl Breaks Out in Bass Pro Shop Over Bathroom
28K148 -
16:40
Actual Justice Warrior
14 hours agoSydney Sweeney REFUSES To Apologize For Being White
12.5K31 -
1:57:23
MG Show
19 hours agoTrump Makes Announcement; Erika Kirk 1st Interview
21.5K23 -
8:01
MattMorseTV
12 hours ago $0.34 earnedTrump just GUTTED the ENTIRE SYSTEM.
67.2K82 -
20:02
Nikko Ortiz
13 hours agoBlades And Sorcery Is The Ultimate Medieval Fantasy
13.2K6