Every basis point (0.01%) costs US—you, me, your neighbors, your family, your friends—an additional $100 million a year in debt service. Trump is costing us BILLIONS of dollars in debt service payments that could go to healthcare, education, etc. OUR money. HIS folly. - ThreadSky

pardoguerra.bsky.social • 6 days ago

Every basis point (0.01%) costs US—you, me, your neighbors, your family, your friends—an additional $100 million a year in debt service. Trump is costing us BILLIONS of dollars in debt service payments that could go to healthcare, education, etc. OUR money. HIS folly.

Reposted from Sky Marchini

Jesus fucking Christ

Comments

lucageronimi.bsky.social•6 days ago

0,5% is around 150 billions on your actual debt.

pardoguerra.bsky.social•6 days ago

Sounds bad

ralphtheewiggum.bsky.social•6 days ago

Thank you. Numbers give me headache and this is the best, cleanest explanation I’ve seen yet of what this goddamn chart means.

devoidcat.bsky.social•6 days ago

I get the feeling he is just going to let the country default.

He has apparently usurped the power of the purse. Congress is just enabling.

Adding more tariffs will not really change the outcome. It’s already ridiculous.

So will he escalate by defaulting?

The GOP has been ok with it before.

pardoguerra.bsky.social•6 days ago

Months ago I said the same thing: they will politicize debt and just withhold payment to certain countries (China) as punishment. That would effectively kill global financial markets and throw us back into the financial Paleolithic

devoidcat.bsky.social•6 days ago

The debt limit has always seemed a natural weapon for him.

It might also partly explain the determination to add trillions more to the debt for tax cuts. With the budget they are pushing it would be difficult to deal with the interest as it is.

Hopefully there’s a rational person somewhere.

heart-of-ryan.bsky.social•6 days ago

Ok, so really, correct me if I'm wrong, but isn't that a little disingenuous? Those are Treasury bonds, right, and aren't most of them held by US citizens anyway? They're a pretty stable, standard middle class investment. So when the rates go up, yes the interest becomes taxes, but

pardoguerra.bsky.social•6 days ago

I don’t know you, but I don’t pay my bills with dividends and interest payments.

heart-of-ryan.bsky.social•6 days ago

I mean, neither do I, I'm not holding any Treasury bonds. But it's not like it's an out of reach investment that's only held by Other People.

Don't get me wrong, Orange Menace is breaking shit left and right. I don't think this is a great example of it though, again I'm not an expert and could

heart-of-ryan.bsky.social•6 days ago

be persuaded otherwise

nindger.bsky.social•6 days ago

You're mixing in the benefits on the costs side of the equation. Yes, X cents on the dollar go to US citizens, but the first step is that taxpayers have to cough up the money.
Whether or not that money then stays in the US economy is a different question.

heart-of-ryan.bsky.social•6 days ago

I guess I don't see the issue in that, per se. I'm understanding it more as an indicator of severe problems, because the yield goes up as people sell, which makes sense, gotta make it more attractive as there's more on the market. But as far as the tax rate goes...I don't think that's

arthurdeodat.bsky.social•6 days ago

You should probably listen to the experts. https://bsky.app/profile/sky.skymarchini.net/post/3lme4vqulb22f

ralphtheewiggum.bsky.social•6 days ago

Isn’t this just us selling our own debt? And as the yield goes up, the more we have to pay in interest. Debt service is a huge chunk of the federal budget.

heart-of-ryan.bsky.social•6 days ago

some goes over seas, a lot of it goes to those citizens, and it gets recirculated from there....so it's not like it's being extracted. Right?

cindic324.bsky.social•6 days ago

When stocks plummet. US Treasuries rise

phanes.bsky.social•6 days ago

So basically every .035 percent would pay a 1 dollar tax on every single man woman and child in the US.
That's on top of the tariffs, on top of the inflation, and job cuts.

Key economic indicators are showing a worldwide growth slowdown, and you can't trust the US.

We are cooked, but together.

oafhunter.bsky.social•6 days ago

I was hearing dumbass "he's doing this so he can refinance us debt at lower rates" takes just a few days ago

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