Over the next twelve months, more than $6 trillion in existing US government debt is set to mature and will need to be paid back somehow.
The point is that the total sum of Treasury Bonds, Notes, and Bills outstanding that will become due and payable this year exceeds $6 trillion.
In ADDITION to the $1 trillion in NEW debt that they're forecasting just in the first six months of 2024, the Treasury Department is also going to have to pay back $6 trillion of existing debt.
Naturally the Treasury Department doesn't have $6 trillion lying around to pay back its bondholders.
If they borrow $6 trillion in new bonds, but then pay back $6 trillion in old bonds, the net change to the debt is ZERO. So, what's the problem?
PLUS, they're expecting $1 trillion of new debt in the first six months of the year, plus probably another $1 trillion in the second half of the year.
If creating $5 trillion in new money resulted in 9% inflation, how much inflation will we see if the Fed creates $15 to $20 trillion of new money? No one knows for sure, but it probably won't be 2%. But if we can make such a strong argument for inflation and anticipate a steep rise in prices over the next 5-10 years, there's no reason why we can't take steps NOW to reduce the impact of future inflation, or even benefit from it.
https://www.zerohedge.com/news/2024-02-02/us-has-6-trillion-problem-over-next-twelve-months
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