Us Macroeconomy

• [UNVERIFIED] California introduced a one-time wealth tax on billionaires, as did the state of Illinois.

  our two states are just saying, ‘Hey, we’re going to tax you for being a one time for being a billionaire’

Debt Trajectory

• [VERIFIED] US national debt stands at approximately $38 trillion, rising at approximately $2-3 trillion annually.

  Here’s our debt. Now, it’s 36. We know it’s 38 trillion, but as we know, we’re going up like two trillion, three trillion this year.

Domestic Holdings Breakdown

• [MISLEADING] The Federal Reserve holds approximately $7 trillion in US Treasuries, the US Treasury holds approximately $3 trillion, and foreign central banks hold approximately $13 trillion.

  The Federal Reserve has like let’s say seven. Uh the Treasury has let’s say seven. Uh the Treasury has three. That’s 10. Now you’re down to 28 billion. The central banks own like whatever I think 13.

  • Correction: Federal Reserve holds approximately $7.5-8 trillion in Treasuries (accurate). US Treasury intragovernmental holdings total approximately $6.5-7 trillion (not $3 trillion). Foreign central banks hold approximately $7.5-8 trillion in US Treasuries (not $13 trillion). The combined total of these three categories is approximately $21-23 trillion, not the figures implied in the source.