The U.S. Treasury spends money and receives it every working day. It has been spending more than it receives for years and those deficits provide our ever-growing National Debt for politicians to argue over and taxpayers to pay, with interest. We have thought that we all understood this, whether or not we approved of it. But now, there is a new mystery.
There is no mystery with the Treasury; it continues to spend more than it receives per usual; the mystery is with the National Debt. While the Treasury spends and collects, the debt has sat immobile for 87 straight days, unchanging by so much as a dime. The Treasury ran a $98 B deficit in July, for example, while the debt remained unchanged at $16,699,396,000,000. This balance, by some coincidence, is just on the safe side of the legal debt limit. Convenient, that. We should appreciate the skill of the Secretary of the Treasury, an impressive skill; a skill so far as I know, that no such official has ever demonstrated before in all of history.
Watching this arrant and obvious disregard for either law or honesty by a government top official whose rectitude is his primary stock in trade–or should be–is telling. The President blatantly lies to obtain his desires; we shouldn’t be surprised at his minions doing likewise.
This observation is helpful; we can begin to understand why the government and media report tame inflation while paychecks are stretched further and further to cover essentials of living. We understand too how more jobs are added to the economy but we meet far too many who need work. The government is built upon politicians’ dishonesty and voters’ delusions.
At least, until the next stock market collapse invites Reality to set in, like rigor mortis… There will be no mysteries about that.