Larry Fink of BlackRock warns that
- The U.S. public debt has increased three times the growth rate of GDP since 1989.
- Just this year, interest on loans will exceed $952 billion — higher than the defense budget.
- He forecasts that by 2030, mandatory spending and debt repayment will consume all budget revenues, leading to a state of permanent deficit.
=>> “If the U.S. cannot control its public debt… this nation risks losing its position to digital assets like Bitcoin.”
As public debt rises, interest rates and budget deficits also increase. Politicians do not propose tax increases because this is not a popular idea among voters and could cost them their seats. Ultimately, the outcome remains the same: devaluation of the USD and printing more money to fund spending.
source:
#Thuancapital