CBO projections show US Federal debt rising by $5.2 billion per day for the next 10 years.
However, since the debt ceiling โcrisisโ came to an end, US debt has jumped by $30 billion per day.
We have added roughly $1 trillion per month in US debt since then.
Interest expense alone is on track to hit $3 billion per day.
That means EVERY HOUR the US is borrowing $1.3 billion and paying $125 million in interest.
What would happen if the US was a public company?
Did you know there are still 18 EoD editions available to mint on the much under-appreciated fully on-chain art platform @_immutables_art ?
https://t.co/wS1NiTthr3
This work is 100% on-chain shader art.
@paulkrugman Minting a $1T coin, parking it at the Fed, and the Treasury drawing down on that $1T to pay bills is comically flawed -- you assert that when the Treasury draws down cash, the Fed can sell its assets to offset the perceived inflation. There's only one issue - who's the buyer?
1. What a shitty day in crypto. An upstanding and awesome person who created great products - @Andy8052 - made the tough decision to shutter his businesses but is doing everything he can to take care of employees. On the other hand, a shitty influencer sold over $2 millionโฆ
๐ฏ % agree. Unfortunately building good infrastructure is not rewarded in this ecosystem
- we build an easy to use on-chain platform for publishing text code and generative art ( @_immutables & @_immutables_art ) - few minted
- then we talked about an airdrop โฆ
The thing is that people don't want to add value, it's all extraction, even now. Plus the opportunity cost around doing meaningful long term value add stuff doing the bull is what drove people to shy away from building infrastructure. Good infra takes years to build, people chose to be famous for 15 minutes and got stuck there :(