36034994586981 USD! Total US treasury bond bonds hit a new high
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According to the latest report released by the Federal Budget Accountability Committee, an independent research institution of the United States, the total treasury bond of the United States has exceeded $36 trillion this week, reaching a record high. From the end of July this year, the total amount of US treasury bond reached 35 trillion yuan, and now it has risen to 36 trillion yuan, which only took more than three months.
According to current data from the financial data website under the US Treasury Department, the total federal government debt in the United States has reached $36.034 trillion.
Federal Budget Accountability Committee Chairman Maya Maiginias bluntly stated in her speech, "Nowadays, the borrowing of the US government is becoming as regular and determined as seasonal changes
However, Maya Maiginias' statement is obviously flawed. Although the growth of US Treasury bonds is indeed inevitable like seasonal changes, its current growth rate is much faster than the regular seasonal changes.
Growth of 1 trillion yuan from half a year to three months, with the growth rate getting faster and faster
According to data released by the US Treasury Department, the total amount of US debt reached 34 trillion yuan in early January 2024, with the figure of 35 trillion yuan appearing at the end of July this year, with an interval of about 7 months. But from the 35 trillion yuan at the end of July to the current 36 trillion yuan, the growth of this trillion dollar US bond has only taken about three months, and the growth rate of US bonds is clearly accelerating.
△ According to the data disclosed by the financial data website of the US Department of Finance, the total amount of US treasury bond bonds rose from $23.64 trillion in 2014 to more than $36 trillion in 2024, an increase of more than 52%. This trend is still accelerating on the whole.
According to calculations by the Russian news agency Sputnik, the $35 trillion in US debt was formed at an average daily rate of 0.014% over a period of 211 days, while the $36 trillion has grown at a rate of 0.025% per day. Converted, at the current rate of growth of US Treasury bonds, the total amount of US Treasury bonds will increase by 8.7 billion every 24 hours.
So, compared to the trend of changes in US debt, the regularity of seasonal changes described by Maya Maiginias may refer more to the bad habit of "living beyond the budget" that the US government can never change. This bad habit of borrowing to survive will continue until the US debt is piled up to an astronomical number, which is difficult to reverse. Even if the Federal Reserve intends to reduce its balance sheet and holdings of US bonds, it will be of no help.
Raising interest rates and reducing balance sheets to combat inflation, but facing difficulties in debt repayment
Since June 2022, in response to high inflation, the Federal Reserve has implemented a package of interest rate hikes and balance sheet cuts, which has led to an increase in US bond rates and increased the government's debt repayment costs, once again pushing up US bond levels.
On November 20th, the US Treasury Department released the net interest payments on US federal government debt from 2014 to 2024.
According to data released by the US Treasury Department on November 20th, the federal government's expenditure on repaying US debt interest alone reached $882 billion in 2024. Compared to interest expenses of $659 billion in 2023, the growth rate of US bond interest expenses in 2024 is 33.8%.
The risk of federal government shutdown and debt ceiling coming one after another
In addition, the short-term appropriations bill passed by the US Congress in September this year is set to expire on December 20th. The US Congress must take new legislative actions within the next month using only about 20 working days to provide funding for the continued operation of the federal government, otherwise the government will be partially shut down due to a lack of available funds.
Before December 20th, lawmakers from both parties in the United States will continue to stage a big drama about whether they can allocate funds to maintain the operation of the government, which is related to the "shutdown" of the governments of both parties in the United States.
In early 2025, the bill passed by the US Congress to temporarily suspend the implementation of the US government debt ceiling will also expire. At that time, it will be a period of transition between the two presidents of the Democratic and Republican parties in the United States. What measures will each use to prevent the United States from facing debt default, and whether there will be another drama of mutual dismantling, will still be of great concern.
However, as Maya McGuinias, chairman of the Federal Budget Accountability Committee, an independent research institution of the United States, described the US treasury bond, the tearing between the two parties and the amount of US treasury bond that is destined to rise continuously are determined as regular as seasonal changes.
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Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
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