{"id":26862,"date":"2024-09-26T21:59:09","date_gmt":"2024-09-26T19:59:09","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=26862"},"modified":"2024-09-26T22:10:40","modified_gmt":"2024-09-26T20:10:40","slug":"deficits-unfathomable","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/abyssal-deficit\/deficits-unfathomable","title":{"rendered":"Unfathomable"},"content":{"rendered":"

\"\"<\/p>\n

 <\/p>\n

The US public debt stands at 35.3 trillion dollars, or 35,300,000,000,000<\/strong>.<\/p>\n

If interest rates returned to 0, and the debt was repaid at a rate of one million per hour<\/strong>, it would take until the year 6047, or 4,023 years, to pay it off.<\/p>\n

The magnitudes are staggering: today we talk about trillions, whereas only billions were mentioned during the Great Depression.<\/p>\n

The American economy now depends entirely on foreign investments and savings.<\/p>\n","protected":false},"excerpt":{"rendered":"

  The US public debt stands at 35.3 trillion dollars, or 35,300,000,000,000. If interest rates returned to 0, and the debt was repaid at a rate of one million per hour, it would take until the year 6047, or 4,023 years, to pay it off. The magnitudes are staggering: today we talk about trillions, whereas…<\/p>\n","protected":false},"author":4,"featured_media":26859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_exactmetrics_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"mc4wp_mailchimp_campaign":[],"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648942706],"tags":[],"class_list":["post-26862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abyssal-deficit"],"yoast_head":"\nUnfathomable - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/abyssal-deficit\/deficits-unfathomable\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unfathomable - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"  The US public debt stands at 35.3 trillion dollars, or 35,300,000,000,000. If interest rates returned to 0, and the debt was repaid at a rate of one million per hour, it would take until the year 6047, or 4,023 years, to pay it off. 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It immediately saves 1.2 percentage points\u2014provided interest rates do not rise. In many respects, that is precisely what the US government is doing. 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The problem is not that America borrowed, but that it has made debt the permanent substitute for the trade-offs it refuses to make. \u00a0 Jonah Goldberg, a conservative columnist not given to sparing his own side, has the numbers right\u2026","rel":"","context":"In "exorbitant privilege"","block_context":{"text":"exorbitant privilege","link":"https:\/\/michelsanti.fr\/en\/category\/exorbitant-privilege"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/Santi_leverage_debt_GDP_EN-1.jpg?fit=1200%2C983&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/Santi_leverage_debt_GDP_EN-1.jpg?fit=1200%2C983&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/Santi_leverage_debt_GDP_EN-1.jpg?fit=1200%2C983&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/Santi_leverage_debt_GDP_EN-1.jpg?fit=1200%2C983&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/Santi_leverage_debt_GDP_EN-1.jpg?fit=1200%2C983&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":19340,"url":"https:\/\/michelsanti.fr\/en\/money\/debt-money-sin","url_meta":{"origin":26862,"position":3},"title":"Debt, money, sin","author":"Michel Santi","date":"March 20, 2019","format":false,"excerpt":"\u00a0 The word for \u2018debt\u2019 in German \u2013 to owe money \u2013 is \u2018Schuld\u2019, and it also means \u2018sin\u2019 in this language. This dual meaning also existed in Akkadian in Babylon. In fact, it's a Babylonian sovereign, Hammurabi, who in 1792 BC was the first to set up a veritable\u2026","rel":"","context":"In "Money"","block_context":{"text":"Money","link":"https:\/\/michelsanti.fr\/en\/category\/money"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/03\/Ladetteestpay%C3%A9eTuessauv%C3%A9.jpg?fit=960%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/03\/Ladetteestpay%C3%A9eTuessauv%C3%A9.jpg?fit=960%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/03\/Ladetteestpay%C3%A9eTuessauv%C3%A9.jpg?fit=960%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/03\/Ladetteestpay%C3%A9eTuessauv%C3%A9.jpg?fit=960%2C720&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":32098,"url":"https:\/\/michelsanti.fr\/en\/debt\/debt-has-seized-power","url_meta":{"origin":26862,"position":4},"title":"Debt has seized power","author":"Michel Santi","date":"August 16, 2026","format":false,"excerpt":"\u00a0 The United States is now borrowing at ultra-long maturities at interest rates that have reached their highest level in twenty years. And yet the economy is slowing and inflation is easing\u2014conditions that would normally drive interest rates sharply lower. But that is not happening, because: markets are no longer\u2026","rel":"","context":"In "debt"","block_context":{"text":"debt","link":"https:\/\/michelsanti.fr\/en\/category\/debt"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/japon.jpg?fit=1200%2C654&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/japon.jpg?fit=1200%2C654&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/japon.jpg?fit=1200%2C654&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/japon.jpg?fit=1200%2C654&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/08\/japon.jpg?fit=1200%2C654&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":30245,"url":"https:\/\/michelsanti.fr\/en\/capitalism\/debt-the-apocalypse-wont-happen","url_meta":{"origin":26862,"position":5},"title":"Debt: the Apocalypse won\u2019t happen","author":"Michel Santi","date":"September 15, 2025","format":false,"excerpt":"Collective hysteria about debt is dangerous. More perilous even than debt itself. It reflects a profound misunderstanding of the nature and scale of public debt. Is France sinking inexorably into a \u201cdebt swamp\u201d? Will its \u20ac3.3 trillion in gross public debt drive it to the edge of the abyss? Is\u2026","rel":"","context":"In "capitalism"","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/09\/Apocapypse-now.jpg?fit=1200%2C672&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/09\/Apocapypse-now.jpg?fit=1200%2C672&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/09\/Apocapypse-now.jpg?fit=1200%2C672&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/09\/Apocapypse-now.jpg?fit=1200%2C672&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/09\/Apocapypse-now.jpg?fit=1200%2C672&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/09\/GXqUpg_bAAAdwGq.jpg?fit=1900%2C1226&ssl=1","_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=26862"}],"version-history":[{"count":3,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26862\/revisions"}],"predecessor-version":[{"id":26865,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/26862\/revisions\/26865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/26859"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=26862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=26862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=26862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}