{"id":255179,"date":"2023-04-28T21:56:43","date_gmt":"2023-04-28T19:56:43","guid":{"rendered":"https:\/\/climatescience.press\/?p=255179"},"modified":"2023-04-28T21:56:46","modified_gmt":"2023-04-28T19:56:46","slug":"u-s-net-debt-to-exceed-110-by-2028-as-decarbonization-costs-mount","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=255179","title":{"rendered":"U.S. Net Debt To Exceed 110% By 2028 As Decarbonization Costs Mount"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Oilprice.com<\/a><\/em><\/p>\n\n\n\n

By\u00a0ZeroHedge<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

While the latest IMF forecasts were mostly lost in the din surrounding the start of earnings season, besides the now standard cuts to global growth forecasts<\/a>, there was one standout item. <\/p>\n\n\n\n

As National Bank of Canada points out, the IMF’s projections forecast U.S. net debt to rise from 95% of GDP in 2023 to 110% by 2028, which actually is a conservative estimate when comparing a similar, if even more concerning longer-term forecast from the Congressional Budget Office, which effectively projects hyperinflation.<\/p>\n\n\n\n

But while the fate of US debt\/GDP in 2050 may feel like someone else’s problem to most Americans, NBC warns that a far more pressing issue may emerge as soon as a decade from today. That’s because unless Washington raises taxes more or slashes benefits (an unlikely outcome), the Social Security fund will hit net zero – i.e., will be exhausted – in just 10 years.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

And as U.S. social security becomes a pay-as-you-go system, sovereign debt issuance will increase at an accelerated rate to offset the statutory decline in the social security fund balance. That, combined\u00a0with the global “Net Zero” cost forecast of $150 trillion over the next 30 years\u00a0<\/a>– or some\u00a0$5 trillion per year<\/em><\/strong>\u00a0– most if not all of it courtesy of the Federal Reserve…<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

… means that in the very near future, the Fed will be drawn back in to monetize debt (read restart QE) at a pace that has never been seen before. The only question is which crisis will get us there first.<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

As National Bank of Canada points out, the IMF’s projections forecast U.S. net debt to rise from 95% of GDP in 2023 to 110% by 2028, which actually is a conservative estimate when comparing a similar, if even more concerning longer-term forecast from the Congressional Budget Office, which effectively projects hyperinflation.<\/p>\n","protected":false},"author":121246920,"featured_media":255187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","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},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818076,691819173,691819174,691818154],"class_list":["post-255179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-co2","tag-decarbonization","tag-hyperinflation","tag-net-zero","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/0300.000-perdidos-cada-60-segundos-minuto.jpg?fit=1392%2C788&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-14nN","jetpack-related-posts":[{"id":265136,"url":"https:\/\/climatescience.press\/?p=265136","url_meta":{"origin":255179,"position":0},"title":"How To Present \u201cUp\u201d As \u201cDown\u201d \u2013 The IEA Medium-Term Oil Market Report","author":"uwe.roland.gross","date":"07\/03\/2023","format":false,"excerpt":"There of course is also the possibility of higher global GDP growth rates, however much that would frustrate climate campaigners\u2019 aspirations.","rel":"","context":"In \"Decarbonization\"","block_context":{"text":"Decarbonization","link":"https:\/\/climatescience.press\/?tag=decarbonization"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0unnamed_1611754607051_1611754612335.webp?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0unnamed_1611754607051_1611754612335.webp?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0unnamed_1611754607051_1611754612335.webp?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0unnamed_1611754607051_1611754612335.webp?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0unnamed_1611754607051_1611754612335.webp?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":439873,"url":"https:\/\/climatescience.press\/?p=439873","url_meta":{"origin":255179,"position":1},"title":"The Collision: Climate Guilt Collides with AI’s Insatiable Power Appetite","author":"uwe.roland.gross","date":"04\/16\/2026","format":false,"excerpt":"The \"climate guilt\" narrative, which has long emphasized reducing energy use, curbing consumption, and prioritizing rapid decarbonization through intermittent renewables, is slamming into the physics of the AI era: massive, always-on computational demand that doesn't tolerate blackouts, brownouts, or weather-dependent supply.","rel":"","context":"In \"AI (artificial intelligence)\"","block_context":{"text":"AI (artificial intelligence)","link":"https:\/\/climatescience.press\/?tag=ai-artificial-intelligence-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/04\/0-The-Collision-Climate-Guilt-Collides-with-AIs-Insatiable-Power-Appetite.jpg?fit=1168%2C784&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/04\/0-The-Collision-Climate-Guilt-Collides-with-AIs-Insatiable-Power-Appetite.jpg?fit=1168%2C784&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/04\/0-The-Collision-Climate-Guilt-Collides-with-AIs-Insatiable-Power-Appetite.jpg?fit=1168%2C784&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/04\/0-The-Collision-Climate-Guilt-Collides-with-AIs-Insatiable-Power-Appetite.jpg?fit=1168%2C784&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/04\/0-The-Collision-Climate-Guilt-Collides-with-AIs-Insatiable-Power-Appetite.jpg?fit=1168%2C784&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":267949,"url":"https:\/\/climatescience.press\/?p=267949","url_meta":{"origin":255179,"position":2},"title":"No Substitute: Poverty Reduction Depends On Access To Energy Rich Coal, Oil &\u00a0Gas","author":"uwe.roland.gross","date":"07\/17\/2023","format":false,"excerpt":"Third World governments are continually berated by opportunistic globalists who claim to be saving the planet by forcing them to take up insanely expensive and thoroughly unreliable wind and solar.","rel":"","context":"In \"CO2\"","block_context":{"text":"CO2","link":"https:\/\/climatescience.press\/?tag=co2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-515.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-515.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-515.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/image-515.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":246916,"url":"https:\/\/climatescience.press\/?p=246916","url_meta":{"origin":255179,"position":3},"title":"The Sun Is Getting Fired Up\u2014and It’s Way Beyond What Experts Predicted","author":"uwe.roland.gross","date":"03\/05\/2023","format":false,"excerpt":"With several solar flares and coronal mass ejections soaring out into space, the sun has had an active few months as the current solar cycle gathers momentum.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-199.png?fit=1200%2C1028&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-199.png?fit=1200%2C1028&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-199.png?fit=1200%2C1028&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-199.png?fit=1200%2C1028&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-199.png?fit=1200%2C1028&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":261827,"url":"https:\/\/climatescience.press\/?p=261827","url_meta":{"origin":255179,"position":4},"title":"Mexico and South America Must Tap Fossil Fuels to Fight Poverty","author":"uwe.roland.gross","date":"06\/12\/2023","format":false,"excerpt":"Despite intense news coverage of issues surrounding the U.S. southern border, it is rare to see headlines about the energy policy of Mexico and the rest of Latin America. Nonetheless, much as in other regions, energy is a major concern inextricably tied to economic well-being.","rel":"","context":"In \"Brazil\"","block_context":{"text":"Brazil","link":"https:\/\/climatescience.press\/?tag=brazil"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00a-drilling-rig-in-the-water-with-the-sun-setting-in-the-background.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00a-drilling-rig-in-the-water-with-the-sun-setting-in-the-background.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00a-drilling-rig-in-the-water-with-the-sun-setting-in-the-background.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00a-drilling-rig-in-the-water-with-the-sun-setting-in-the-background.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00a-drilling-rig-in-the-water-with-the-sun-setting-in-the-background.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":249781,"url":"https:\/\/climatescience.press\/?p=249781","url_meta":{"origin":255179,"position":5},"title":"Securing Energy vs. Decarbonizing Energy","author":"uwe.roland.gross","date":"03\/26\/2023","format":false,"excerpt":"The choice between energy security and decarbonization does not get much attention, because it exposes the shortcomings of low-carbon energy.","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/1a4120207027627f0b-1.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/1a4120207027627f0b-1.jpeg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/1a4120207027627f0b-1.jpeg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/1a4120207027627f0b-1.jpeg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/1a4120207027627f0b-1.jpeg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/255179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=255179"}],"version-history":[{"count":6,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/255179\/revisions"}],"predecessor-version":[{"id":255190,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/255179\/revisions\/255190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/255187"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=255179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=255179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=255179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}