America has inflated away $2.7 trillion of its national debt in the 14 months since President Biden took office.
Why it matters: If you want to find a silver lining in the latest inflation data, look to that fact that despite all his new spending programs, Biden has presided over a national debt that has remained astonishingly flat in real terms.
I wonder who owns all that debt? Oh about $10 trillion of it belongs to domestic investors. There’s also the chunks allocated to Social Security and Medicare.
That’s some “silver lining” right there.
Maybe Biden can go on printing and spending money until the national debt is wiped out because, like in Zimbabwe at its worst, a trillion dollars will buy an egg.
Leave a Reply