The bill for illegal immigration into the US is a trillion bucks – interest on US Government debt of 33.7 trillion at 5% per annum = 1.7 trillion – the Federal Income Tax for 2022 = 2.6 trillion

US Government default coming in a few short years

The multiple decades long paradigm of running fiscal deficits of 2-5% of GDP per annum is about to result in the unthinkable – default by the US government.

To paraphrase Margaret Thatcher “the trouble with being “woke” is you run out of other people; s money – rapidly”.

All the progressive “woke” crap of the last decade or so - universal basic income, lifting the minimum wage to levels that destroy profitability, green new deals, student loan forgiveness, open borders, decriminalizing crime, reparations, no bail, “don’t cry for me Ukraine”, all of it, have bankrupted the US – which, in a few short years will not be able to pay its way.

I have highlighted just two areas – illegal immigration and debt interest – but all the other areas of welfare, defence, education are also unaffordable.

This is before the multi-trillion dollar bill arrives for treatment of the tens of millions of vaccine injured Americans.

The S is well and truly approaching the F at a great rate of knots.

One symptom of the malaise is this not so fun fact. Net of benefits, those earning under 70,000 bucks will likely not need to pay federal income tax NET OF BENEFITS.

You can check if you are entitled to US Government benefits here:

Use Benefits.gov to find government benefits you qualify for | Usage

Benefits cover “Food, Health insurance, Housing, Education, Utilities and other necessities”.

No-one has updated Wikipedia for the programs for a dozen years,

Social programs in the United States - Wikipedia

Scoot down to the table a quarter the way down for means tested programs in 2011, here’s a taste of the first fifteen lines of the table:

This is the sort of spending that gets into those multi-thousand page omnibus bills drawn up by lobby groups that are rubber stamped by congressional staffers and NOT REDA by Congress (because the thousands of pages are presented an hour before a vote to pass the omnibus spending bill).

I detailed means tested benefits for two reasons because this is what socialism looks like and this is what attracts illegal immigrants – if they can get in to the country and get given some sort of State or City ID.

How much Federal Income tax is collected? Well for 2022 we have this:

How much revenue does the federal government collect? (usafacts.org)

“In 2022, the federal government collected over $2.6 trillion in income taxes, accounting for 52% of total revenue. After adjusting for inflation, income tax revenue increased by more than $800 billion between 2020 and 2022. The increase is the result of additional capital gains taxes and increased income tax withholdings.”

An 800 billion dollar increase in Federal Income Tax collected v the first 2020 C19 year.

You can get a sense of Federal Spending here:

Federal Spending | U.S. Treasury Fiscal Data

“The U.S. government has spent $6.13 trillion in fiscal year 2023 to ensure the well-being of the people of the United States.”

Here’s the largest components of government spending:

Uh huh.

That 659 billion dollars was paid on around 30 trillion of debt borrowed at around 2.2%

How much government debt does the US have now and at what rate of interest will it need to be refinanced (gradually over the next few years)?

33.7 trillion bucks U.S. National Debt Clock : Real Time (usdebtclock.org)

Cost: United States Government Bonds - Yields Curve (worldgovernmentbonds.com)

“Central Bank Rate is 5.50% (last modification in July 2023).”

Call it 5% for a gradual increase to an debt servicing interest bill to around 1.7 trillion a year

“The United States credit rating is AA+, according to Standard & Poor's agency. Current 5-Years Credit Default Swap quotation is 47.76 and implied probability of default is 0.80%.” This assumes a 40% recovery rate.

How many illegal immigrants have there been since Biden started squatting?

Illegal border crossers total over 10 million since Biden inauguration | Washington Examiner

10 million. This probably brings the number of illegal immigrants to a staggering 50 million. Let’s just “price” the last 10 million.

Direct costs for health, food, housing, utilities, clothes etc = 50,000 bucks a year.

Indirect costs for translation services, legal processes, policing, midnight airlift or other transportation via rendition to a city of their choice, policing, job placement, etc AND the “crowding out” and price pressures from the presence of illegal immigrants on Americans “competing” for the same space/opportunities/healthcare/education/housing etc. – another 50,000 bucks a year.

10 million illegal immigrants times 100,000 z year in direct and indirect costs = a trillion bucks a year.

So, the rubber has hit the road. To prevent default in a few years = when illegal immigration costs and debt interest will take ALL federal income taxes raised from Americans, the US must run fiscal surpluses to repay the massive debt load (which will be north of 35 million bucks in a few years) AND evict/repatriate the latest ten million illegal immigrants – plus as many of the other 40 million and their “anchor babies”.

Of course, countries like Argentina have defaulted on their debt and called in the IMF.

One thing is for sure, there is no way that massive spending on BS like the “Green New Deal” can proceed.

Onwards!

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