The Federal Reserve increased the money supply at a record rate in 2020. And a move recently announced by the US Treasury Department will mean even more money flooding into the marketplace. In other words, another tidal wave of inflation.
The net worth of the US comes in at negative $21.5 trillion.
This according to the Financial Report of the United States Government recently released by the Treasury Department.
The government shutdown apparently didn’t save Uncle Sam any money. The US Treasury Department said it will borrow about $8 billion more than originally estimated in the first quarter of 2019 as deficits continue to spiral upward.
According to new Treasury Department projections, the US government will issue $365 billion through credit markets in the January-March quarter. This stacks on top of the $426 billion borrowed through credit markets in the October-December quarter.
The US Treasury plans to borrow another $425 billion in the final quarter of 2018, bringing total borrowing for the year to $1.34 trillion, according to a Treasury Department press release.
The 2018 borrowing level is expected to more than double 2017’s number.