that is the problem. in 2023, the national debt up to now, april is 31.46 trillion dollars. trillion. in 2022 the federal government collected a total of 4.9 trillion. but federal government spent 6.22 trillion under joe biden, that is 1.38 trillion dollar debt. 1.38 trillion. added to the debt. between 2021 and 2031, a 10 year period. biden will increase debt over 10 years by 6 trillion dollars. more than projected before he came into office. from 2024 to 2033 biden s borrowing causes interest costs to increase to stunning 10.2 trillion
that is the problem. in 2023, the national debt up to now, april is 31.46 trillion dollars. trillion. in 2022 the federal government collected a total of 4.9 trillion. but federal government spent 6.22 trillion under joe biden, that is 1.38 trillion dollar debt. 1.38 trillion. added to the debt. between 2021 and 2031, a 10 year period. biden will increase debt over 10 years by 6 trillion dollars. more than projected before he came into office. from 2024 to 2033 biden s borrowing causes interest costs to increase to stunning 10.2 trillion
republicans? did the deal that he cut to become speaker, limit his options? one of the debt plan holdouts is matt gaye s, yes, the same thorn in mccarthy s side who delayed his election as speaker. the gop congressman of florida, he joins me now. congressman, welcome. back so, when did republicans find religion on spending? , well i think that you have seen a little bit more than a dozen of us never vote for an increase in the debt limit, and so to do so, there has to be substantial downward pressure on spending. we re deeply concerned about a 32 trillion dollar debt. what that means in terms of the dollar, positions, the global reserve currency. and, the extent to which the government spending is driving the very inflation that we were elected to check. so we think joe biden should negotiated, that s what and i think that the american people understand that those negotiations are necessary and divided government. my parents always say that
what did einstein say the world war for would be fought with with sticks and stones.e tl right. so maybe toileet papert paper ia to be a luxury after taiwan, wr russia and we end up with a war world war three there. this is the optimistiere. sc of th portion of the sean hannitye show. where do they come upte acc with this? yes, the parisord wa climate ac. that was a brilliant idea of the laugh. oh. in davos, switzerland. right. and it allowed china to build a mitzvot or two . but the united states , we paid the debts there, a developing nation. they re developinga de. but president trump said , i m the president of pittsburgh, not paris. and that s pittsburg what a pret should be . and you know what?ident sh i can seat say it any better place. great to see youcl.ay, and i have forgiven your fiveipo hundred dollar debt. it s wiped off the books.ff. you re don e. anyway, thank you both for being with us. kelly , thank you.. kelly .stay with moreravis, thankus you. stay with us.
from the bottom. well, staying on this because, as we know, part of the problem, of course, in the banking world, is linked, in some degree, to the higher interest rates for the us dollar and other major major currencies. just explain what impact that is having on the developing world and its ability to repay the debt because, every time i see an interest rate going up i m thinking, thatjust makes it more expensive for those poorer nations as interest rates go up, it goes up for the riskless investments, so many governments have to pay some more but it goes up even more for those that have some credit risk which would be smaller countries around the world, developing countries. so, they get hit by the rising interest rates and then, some of the countries are devaluing on top of that which means if they have dollar debt let s say you are a business in a poorer country, the market already says, boy, you must be risky!