OAK BROOK, IL - SEPTEMBER 30, 2024
As U.S. federal interest payments hit a staggering $1 trillion milestone, StatisNostics releases a comprehensive report on the cascading effects of government debt across all levels of government.
The Oak Brook, Illinois data firm’s report reveals that federal interest payments now consume 22.72% of tax revenue, with projections indicating the federal debt could reach 166.2% of GNP in 30 years. The study also provides a state-by-state breakdown of per capita state and local debt, ranging from $35,933 in Illinois to $6,173 in Idaho.
“We commend this study to the careful attention of taxpayers interested in the bigger picture of how government spending induces debts that in turn transfer massive amounts of generational wealth...” says Partner Edward N. Tiesenga.
Titled “Hamilton’s Spending Pressure Scheme and You” theStatisNostics study illustrates not only the interest payment flows on federal debt, but also the combined amounts of interest incurred by all other levels of government debt, state and local. StatisNostics introduces a novel Taxes-To-Interest (TTi) ratio, allowing citizens to assess the debt burden of their local governments and make informed decisions about where to live and pay taxes.
Ed Tiesenga presented the paper and stated: “We commend this study to the careful attention of taxpayers interested in the bigger picture of how government spending induces debts that in turn transfer massive amounts of generational wealth to a relatively small group of wealthy investors, usually in the name of stimulating the economy.”
The full report, including interactive maps and detailed analysis, is available at, www.StatisNostics.com/white-papers. Interested parties can download the white paper directly, from the website. StatisNostics urges policymakers, economists, and concerned citizens to, review this critical data as discussions on government spending and debt continue to shape, our, nation's future.
About StatisNostics: StatisNostics is a division of StatisTax, LLC, a data analytics firm that geolocates government revenue, spending and debt metrics to specific addresses. StatisTax owns and operates StatisNostics.com, SpendingPressure.com, SatisCation.com and soon to be released, StatisTaxAppeal. The core function of StatisTax is to identify and present data in composite and component levels to enable comparative analysis for decision support purposes.
About Tiesenga & DeBoer LLP:
Tiesenga & DeBoer LLP is a full-service law firm in Oak Brook with a focus on business law and transactions, commercial litigation, and estate planning and administration. The attorneys at Tiesenga & DeBoer LLP have over 100 years of collective experience in successfully representing individuals and businesses throughout the Chicago area.
For more information or to speak with a qualified attorney call 630-645-9881 or visit http://www.oakbrook-law.com.
