#USNationalDebt

The U.S. national debt exceeds $34.8 trillion.. Where are we heading?

In relative silence, the U.S. national debt continues to rise at an alarming rate, currently exceeding $34.8 trillion, amidst 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!

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 implications:

Reduction in spending on social services and education.

Increase in taxes in the near future.

Possibility of losing market confidence in U.S. bonds in the long term.