EJ Antoni Profile picture
Jun 12 4 tweets 2 min read Twitter logo Read on Twitter
Latest US Treasury data show we're on unsustainable path: interest on the debt was a whopping $61 billion in May, more than was spent on veterans benefits and services, education, and transportation COMBINED; interest costs were a quarter of the deficit last month: Image
Also note that the Treasury's graphic is deceptive, w/ no note that it isn't to scale - "deficit" of $240B is numerically larger than "social insurance & retirement" receipts of $140B, but "deficit" is half the size in the graphic: Image
The deficit is substantially worse than last fiscal year, with 8 months' worth of deficits almost equal to previous 12 months' deficits; fiscal year to date deficit is 2.7 times the same period from previous fiscal year: Image
Interest on the debt this fiscal year has risen 25% from last fiscal year, the result of issuing new debt but also rolling over old debt at much higher interest rates: Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with EJ Antoni

EJ Antoni Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @RealEJAntoni

Jun 13
Latest from BLS shows we're still paying the hidden tax of inflation; average family effectively $7,200 poorer than Jan '21 🧵... Image
Price increases have slowed significantly (disinflation) but no widespread decreases in prices (deflation); that reduces the headline y/y number (4.0%) but people are still paying the inflation tax until earnings catch up with price increases: Image
Real hourly earnings don't tell the whole story b/c hours have been getting cut, so real weekly earnings are down even more - now down 5.1% since Jan '21, lowest level since Jun '22: Image
Read 8 tweets
Jan 26
Sure enough, #GDP and consumer spending came in below Atlanta Fed projection and some very troubling details as we look under the hood... 🧵
consumer spending contributed just 1.42 percentage points (pp), investment an anemic 0.27 pp, net exports 0.56 pp, and gov't 0.64 pp
The gain from net exports is not a good sign: both imports and exports are falling, imports are just falling faster; international trade slowdown is not a sign of wealth for Americans
Read 8 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(