As Congress debates their $3.5 trillion spend-a-thon and their human infrastructure bills, we need to bear in mind that while US Treasury debt is at $28.863 trillion (and growing really fast), the US has promised $157.738 TRILLION in unfunded benefits such as Social Security and Medicare.
And mandatory spending (aka, entitlements) is projected to keep on growing while discretionary spending has flat-lined.
With this disaster unfolding, US Treasury has found the time to issue a new quarter with Anna May Wong’s name and likeness. Who is Anna May Wong? The first notable Chinese-American actress in Hollywood.
At least it wasn’t Mao Zedong on the quarter. Or Anthony Fauci.
Here is Treasury Secretary Janet Yellen’s solution to the massive disconnect between the current outrageous government debt load and the entitlements promised by Congress. Other than a new quarter.