The Federal Reserve’s Balance Sheet Is DISGUSTING
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Ouch. I’m looking at a really, really ugly, ugly balance sheet. And this is the balance sheet for the United States of America. Yeah. Let me put it to you this way. OK, this is the this is June’s numbers. One hundred and forty billion dollars in interest we paid. You do understand we spent more
on interest in the month of June than anything else, more than defense, more than health and human services, across the board, social security. We spent more in interest payments on our debt in June than we did on all those other items. That’s 30%. 30 % of all tax revenue went to interest.
on our national debt. Let me put this in a perspective. If this were a company, there was a, this is a company, you know, if you had, we’re looking at investments, I was looking to analyze a company, would you buy this? This would be a company that would be falling apart. The CEO, the management across the board would be fired. You know, I’m thinking of, popped in my head, you’re my great scene.
and the movie Wall Street. Great scene movie Wall Street. Gordon Gekko’s at the Teldar paper conference and he’s ripping in. He’s ripping into all the vice presidents. I got how many vice presidents here and I don’t know. I still haven’t found out what they do and all this paperwork going back and forth between all these vice presidents. It’s basically how we should be reacting to a balance sheet like this. We are
heading in the right direction. And listen, people, okay, this didn’t happen over just over the past four years. Okay. A balance sheet this bad is decades, a generation plus in the making. Do we have anybody out there? Anybody, anybody out there that actually wants to tackle this wants to be serious about actually how bad
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this is. Again, I remember years ago, we’re going back, going back to the infancy of this radio show. Remember when Jerry Springer was still a thing was on the air. This is 2003 2004. I remember talking about, hey, you know, it’s almost as if it’s almost as if the United States books, it’s like a Jerry Springer show episode, where they’re bringing parents on the program who have taken out credit cards.
in their kid’s name and ruining their kid’s financial situation, putting them into debt and ruining their credit. Like something you’d see on Jerry Springer. Okay, that’s what we’ve done. That’s what we’ve done to our kids. That’s what we’ve done to our grandkids. Anybody care?
No, no, no, we just print more money, right? We just print more. Modern monetary theory is what we’re told, right? No, it’s okay, we just print more. well, again, you like inflation? You enjoying the price of everything and anything going through the roof? My latest bout with inflation, okay, which is again, it’s a byproduct of this ugly balance sheet.
I was waiting to wait to go to catch my plane back on Tuesday and I was at the International Mall in Tampa and I went into Rocco’s tacos. Rocco’s tacos was a favorite of our families when we used to do lacrosse tournaments. The original ones were on the actually the East Coast of Florida is one in Tampa. So I go in there. It’s Taco Tuesday. And again, I just want
Fish taco, mahi mahi taco. And I look and I’m saying, okay, nine bucks. Nine bucks for a fish taco. And I ordered two, I ordered two. They were literally bite -sized.
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Not only did I get shrinkflation, but they were overpriced. This big, bite size, $9 a piece. Again, I know I’m going off on a rant, kind of getting off the beaten track here to some degree, and I’m just sharing frustration that many people have, but this is why. This is why, okay? Again, I reiterate.
30 % of all tax revenue that came in went to paying interest on our national debt. We spent more. Okay, I want you to use this as fodder. Okay, you go to a cocktail party. Okay, you’re out. Okay, the biggest line item, the biggest line item last month was interest on our national debt, more than defense, more than health and human services, more than social security. Watchdog on wallstreet .com.
