The federal debt has increased by $1,303,466.578.471.45 since last Thanksgiving, according to data released by the U.S. Treasury.
Every dollar of new Treasury debt generates 30 cents in new aggregate GDP. Where does the other 70% of that new debt go? It is concentrated in the hands of wealthy lenders. They earn about 2.5% on that, a nice deal. In addition, the primary dealers front the debt planning for the wealthy and they collect extra basis points from that.
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