💰 The US national debt exceeds $34.8 trillion... where are we headed?
In relative silence, the US national debt continues to rise at an alarming pace, currently surpassing $34.8 trillion, amid rising government spending and high interest rates.
📊 What is happening?
Just to service the debt (annual interest): the government pays more than $1.1 trillion annually!
That means that interest on the debt has become one of the largest items in the federal budget.
And as the Federal Reserve continues to keep interest rates high to fight inflation, the costs are rising more and more.
⚠️ Potential implications:
Cutting spending on social services and education.
Increasing taxes in the near future.
The possibility of losing market confidence in US bonds in the long term.
💬 Some see the situation as "sustainable as long as the dollar is the global currency," while others see it as "more like a ticking time bomb."
🎯 An important question: Are we facing a real danger? Or just big numbers in a financial system that is inherently inflated?