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 rate, 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 over $1.1 trillion annually!

This means that interest on the debt has become one of the largest items in the federal budget.

As the Federal Reserve continues to keep interest rates high to combat inflation, the cost is increasing more and more.

⚠️ Potential consequences:

Reduction in spending on social services and education.

Increase in taxes in the near future.

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 view it as "more like a ticking time bomb."

🎯 An important question: Are we facing a real danger? Or just big numbers in a financially inflated system?