A Govt That Must Borrow $1T to Cover Interest on Debt, and Another $1T for Operating Costs

[bendog]

View attachment 855196
What happens when you have leadership that’s never worked a day in their lives.

Bidenomics in action. Only way out now is a violent revolution. Which at the latest will occur when this house of cards implodes.

US Debt Interest Bill Rockets Past a Cool $1 Trillion a Year

(Bloomberg) -- US Treasuries may face renewed selling pressure into the new year if one measure of the nation’s swelling debt repayment bill is any guide. Most Read from BloombergWeWork Goes Bankrupt, Signs Pact With Creditors to Cut DebtTrump's Wealth Has Jumped $500 Million Since He Left the...

finance.yahoo.com

It takes two to tango. And Obama and McConnel acutally had a deal.....

Federal Debt: Total Public Debt as Percent of Gross Domestic Product

View the ratio of federal debt to the economic output of the U.S., which can indicate economic health and the sustainability of government borrowing.

fred.stlouisfed.org

 

[BlindBoo]

You can make excuses if you want, but the sad facts are that the cost of energy is increasing. Energy affects the cost of everything.
We'll see in 2024 if voters give Biden's energy policies a pass or if they vote for Republicans and drill baby drill.

Those quotes were from your link.

 

[BlindBoo]

Not me.
I didnt vote for those dipshits.

They still did it in all of our names.

 

[Billiejeens]

$9 for a box of cereal loses soccer moms.

Biden's war on energy affects the cost of everything. The rise in the cost of gas and electricity is the driver for increasing prices.

Inflation in America: Track where prices are rising and falling

NBC News is tracking monthly inflation levels for gas, flights, groceries and more.

www.nbcnews.com

Ar one point, yes.
Today too many don't care what prices are as long as they can kill their baby.

 

[Harpy Eagle]

View attachment 855211

so what your graph shows is all that debt accumulated before 2021 is now costing more .

 

[Harpy Eagle]

We'll see in 2024 if voters give Biden's energy policies a pass or if they vote for Republicans and drill baby drill.

We are already producing more oil than any point in our history.

 

[kyzr]

We are already producing more oil than any point in our history.

In spite of Biden's energy policy, not because of it...

However, don't count your chickens...

The US rig count is dropping fast, that means oil production will fall too.

A well produces the most oil in the 1st year, after that it takes a lot of pumping.

US Rig Count Weekly Analysis: Baker Hughes North American Rotary Rig Count | YCharts

In depth view into US Rig Count including historical data from 1968 to 2024, charts and stats.

ycharts.com

"US Rig Count is at a current level of 618.00, down from 625.00 last week and down from 768.00 one year ago. This is a change of -1.12% from last week and -19.53% from one year ago."

US 2023 oil output to rise by less than forecast, consumption to fall -EIA

U.S. crude oil production this year will rise by slightly less than previously expected while demand will fall, the U.S. Energy Information Administration (EIA) said on Tuesday.

www.reuters.com

"U.S. crude oil production this year will rise by slightly less than previously expected while demand will fall, the U.S. Energy Information Administration (EIA) said on Tuesday."

US Oil Refinery Capacities Yearly Insights: The Energy Institute Statistical Review of World Energy | YCharts

In depth view into US Oil Refinery Capacities including historical data from 1965 to 2021, charts and stats.

ycharts.com

So don't just look at oil production, even though the dropping rig count means that will drop, you also need to look at refining capacity and pipeline capacity, both of which took a hit from Biden's war on energy. ANWR was closed, the 300,000 bpd KeystoneXL pipeline was killed, etc. Federal interference in the free market, even as Biden sells SPR oil to China, shows how inept the Biden admin really is.

https://www.npr.org/2023/03/12/1163003146/alaska-drilling-protections-biden

 

[BlindBoo]

In spite of Biden's energy policy, not because of it...

However, don't count your chickens...

The US rig count is dropping fast, that means oil production will fall too.

A well produces the most oil in the 1st year, after that it takes a lot of pumping.

US Rig Count Weekly Analysis: Baker Hughes North American Rotary Rig Count | YCharts

In depth view into US Rig Count including historical data from 1968 to 2024, charts and stats.

ycharts.com

"US Rig Count is at a current level of 618.00, down from 625.00 last week and down from 768.00 one year ago. This is a change of -1.12% from last week and -19.53% from one year ago."

US 2023 oil output to rise by less than forecast, consumption to fall -EIA

U.S. crude oil production this year will rise by slightly less than previously expected while demand will fall, the U.S. Energy Information Administration (EIA) said on Tuesday.

www.reuters.com

"U.S. crude oil production this year will rise by slightly less than previously expected while demand will fall, the U.S. Energy Information Administration (EIA) said on Tuesday."

US Oil Refinery Capacities Yearly Insights: The Energy Institute Statistical Review of World Energy | YCharts

In depth view into US Oil Refinery Capacities including historical data from 1965 to 2021, charts and stats.

ycharts.com

View attachment 855252

So don't just look at oil production, even though the dropping rig count means that will drop, you also need to look at refining capacity and pipeline capacity, both of which took a hit from Biden's war on energy. ANWR was closed, the 300,000 bpd KeystoneXL pipeline was killed, etc. Federal interference in the free market, even as Biden sells SPR oil to China, shows how inept the Biden admin really is.

https://www.npr.org/2023/03/12/1163003146/alaska-drilling-protections-biden

At the height of the Covid slowdown rig count was down to 250.

U.S. Crude Oil and Natural Gas Rotary Rigs in Operation (Number of Elements)

Since we are exporting refined product at record numbers I'd say the refining industry is holding up well.

Weekly U.S. Exports of Total Petroleum Products (Thousand Barrels per Day)

There was no interest in drilling in ANWR. Too time consuming and to expensive. KeystoneXL has nothing to do with US production.

Like I said, worst war on energy ever.

 

[Dont Taz Me Bro]

What happens when you have leadership that’s never worked a day in their lives.

Don’t you plan on voting for Trump again?

 

[leftwinger]

View attachment 855196
What happens when you have leadership that’s never worked a day in their lives.

Bidenomics in action. Only way out now is a violent revolution. Which at the latest will occur when this house of cards implodes.

US Debt Interest Bill Rockets Past a Cool $1 Trillion a Year

(Bloomberg) -- US Treasuries may face renewed selling pressure into the new year if one measure of the nation’s swelling debt repayment bill is any guide. Most Read from BloombergWeWork Goes Bankrupt, Signs Pact With Creditors to Cut DebtTrump's Wealth Has Jumped $500 Million Since He Left the...

finance.yahoo.com

Yet BOARDSTAIN have been cheering for more and more of this since my time joining USMB. They are currently on another bender over some VA DEM winning some meaningless seat in district #249.

 

[leftwinger]

Since Jimmy Carter's paltry 208 billion deficit, how much of the debt was added by Reagan the two Bushes, and Trump compared to the amount added by Clinton, Obama and Biden?

Meh, 13.6 trillion verse about 11.4 trillion.

Congrats fellow Americans we all helped.

U.S. Debt by President: Dollar and Percentage

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar amounts.

www.investopedia.com

nice try Kitchen Aid #3.

 

[kyzr]

At the height of the Covid slowdown rig count was down to 250.
Since we are exporting refined product at record numbers I'd say the refining industry is holding up well.
There was no interest in drilling in ANWR. Too time consuming and to expensive. KeystoneXL has nothing to do with US production.
Like I said, worst war on energy ever.

1. At the height of Covid we were all staying home. For a booming economy we'll need lots of oil.

2. The age of the current refineries is very old. Oil companies don't want to invest in new plants if oil is being phased out.

3. There was interest in drilling in ANWR Biden canceled leases. AK wanted the oil developed for the revenue.

https://www.cnn.com/2023/09/06/politics/drilling-alaska-national-wildlife-refuge/index.html

4. KeystoneXL was 300,000 bpd of Canadian oil sands oil. Supply and demand could always use more supply.

The oil companies are making due with the situation as it is. Oil production will fall, oil & gas prices will rise, just like Joe Biden wants.

 

[BluesLegend]

I'd print $363 trillion, pay off the debt and give every man, woman, and child $1 million. You know, if I thought like Democrats.

 

[BlindBoo]

1. At the height of Covid we were all staying home. For a booming economy we'll need lots of oil.

2. The age of the current refineries is very old. Oil companies don't want to invest in new plants if oil is being phased out.

3. There was interest in drilling in ANWR Biden canceled leases. AK wanted the oil developed for the revenue.

https://www.cnn.com/2023/09/06/politics/drilling-alaska-national-wildlife-refuge/index.html

4. KeystoneXL was 300,000 bpd of Canadian oil sands oil. Supply and demand could always use more supply.

The oil companies are making due with the situation as it is. Oil production will fall, oil & gas prices will rise, just like Joe Biden wants.

Of course we were. That's why crude oil sales plummeted in 2020, and production was cut back

None of the big companies bought a single lease. The only ones who did were hoping the big boys would come in for a share of the projects, but they never did.

It's still an import pipeline, nothing to do with our production level. Imho, Biden should have used it as a bargaining chip.

Production will continue to increase, perhaps enough to make us oil independent (at least on paper).

 

[eagle1462010]

"For most of 2021 and 2022, broad swaths of the economy dealt with supply chain disruptions that affected the availability of wine and video game consoles to cars and eggs. For cars and consumer electronics, even if manufacturers wanted to build more items, they didn't have enough computer chips or raw materials to do so for more than a year."

"Many industries, including oil refining, cars and airlines, cut staff and production in 2020 at the outset of the Covid-19 pandemic, leaving them understaffed when demand for travel roared back."

"Russia’s invasion of Ukraine and subsequent oil embargoes by the U.S. and the European Union have also further strained the global energy supply,"

Beside we're producing record amounts of energy.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

Worst war on Energy evah!

Shut the world down for Corona.

Good job dumb fucks.

 

[Harry Dresden]

So you don't vote or pay taxes?

yea but i didnt support those guys....so i didnt help them....

 

[BlindBoo]

yea but i didnt support those guys....so i didnt help them....

Your taxes are being used to service the debt so your support of those guys is unnecessary, we own it.

 

[eagle1462010]

Your taxes are being used to service the debt so your support of those guys is unnecessary, we own it.

Everytime you buy at a store you own it. Inflation is a tax

 

[Harry Dresden]

Your taxes are being used to service the debt so your support of those guys is unnecessary, we own it.

service the debt?....you mean adding to it?....

 

[BlindBoo]

service the debt?....you mean adding to it?....

Paying the interest and principle when the notes come due. Your taxes pay for it, your kids taxes will pay for it and your grandkids will pay for it and so on.