The government is set to shutdown on Oct 2, 2023, the same day markets fell apart in 2008, would trigger the same panic similar.

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https://twitter.com/WallStreetSilv/status/1689199840058593280

From Bad to Worse: The Federal Interest Expense Is Rising at An Exponential Rate

In 2018, CBO projections optimistically predicted the interest expense on the national debt would rise to 3.8% by 2035, surpassing defense spending. These projections assumed steady economic growth and consistent inflation. By 2020, the Covid recession occurred, followed by inflation and increasing interest rates amidst high deficit spending. Now, the interest on the national debt has soared to nearly a trillion dollars, or 3.7% of GDP. The CBO’s forecasts, which still predict only a slow rise in interest rates, appear unrealistically hopeful, especially as the current treasury market yields exceed 4%. With the deficit projected at $1.5 trillion for 2023, but already reaching $2.2 trillion. The nation’s escalating debt crisis is intensifying.

Retirees Risk a $17,400 Cut if Social Security Isn’t Saved

The 2024 presidential candidates are being urged to commit to not altering Social Security. However, such a commitment indirectly supports a 23% benefit reduction by 2033 due to the impending insolvency of the Social Security retirement fund. This reduction equates to a $17,400 yearly cut for a typical dual-income couple retiring that year. The Social Security program’s trustees forecast the fund’s reserves will run out by 2033, leading to mandatory benefit reductions for all 70 million beneficiaries. Candidates avoiding the issue are essentially supporting significant benefit cuts for retirees in the near future.

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