TV and credit cards
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25-30% of the debt rolls over to the new rate (needs to be refinanced). The rest is locked in until their maturity date.Markets are reacting poorly to bond auction and reducing demand for US Bonds as apparently everyone else is wondering how America is going to manage their finances in the near future. While the issue of debt is part of the problem, one has to wonder how much the foreign investors are not thinking the US is in a viable long-term strategy under Trump, as Trump's tax cuts which added trillions to the deficit are being EXPANDED by Congress.
Add in the issue of the tariffs and the gross uncertainty on its impact on the US economy, shit appears to be getting real right now.
No one is reporting on it or suggesting it, but I have to wonder whether bond investors are wondering whether they can trust Trump not to default on bond payments itself.
The debt is rolling over to the new rates. So interest and debt payments will go up. The extra $175 billion for defense will put Defense above $1Trillion/year. SS/Medicare/Debt payment/Military will absorb a large majority of US taxes. I bet they eventually go after SS/medicare. Definately starting to look at Medicad, SNAP, etc.
I expect more irresponsible posts from Trump questioning the amount owed and necessity of payments on the debt.