Less than two weeks ago, the United States Department of Treasury very quietly released its own internal projections for the federal government's budget deficits over the next several years.
And the numbers are pretty gruesome.
In order to plug the gaps from its soaring deficits, the Treasury Department expects to borrow nearly $1 trillion this fiscal year.
Then nearly $1.1 trillion next fiscal year.
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And up to $1.3 trillion the year after that.
This means that the national debt will exceed $25 trillion by September 30, 2020.
Remember, this isn't some wild conspiracy theory. These are official government projections published by the United States Department of Treasury.
This story alone is monumental– not only does the US owe, by far, the greatest amount of debt ever accumulated by a single nation in human history, but $25 trillion is larger than the debts of every other nation in the world combined.
But there are other themes at work here that are even more important.
For example– how is it remotely possible that the federal government can burn through $1 trillion?
Everything is supposedly totally awesome in the United States. The economy is strong, unemployment is low, tax revenue is at record levels.