The United States faces a dire fiscal reality as its annual interest expense on debt soars to $1.1 trillion, a staggering increase from just three years ago. With total debt ballooning by over $11 trillion since 2020, the nation grapples with unsustainable deficit spending habits and a lack of serious leadership. As warnings go unheeded and political inertia persists, the public must demand change to avert a looming fiscal crisis of unprecedented proportions.
- Annual interest expense on US debt reaches $1.1 trillion, up from $450 billion three years ago.
- Total US debt surged by over $11 trillion since 2020, a 144% increase.
- Deficit spending remains a major problem, with little attention and unsustainable fiscal trajectory.
- Despite warnings, political incentives and deficit spending habits persist, with debt reaching unprecedented levels.
Sources:
Interest on US Federal debt is out of control:
The annual interest expense on US debt is literally moving in a straight line higher, now at $1.1 TRILLION.
To put this in perspective, less than 3 years ago the annual interest expense on this debt was $450 billion.
That's a 144%… pic.twitter.com/DVaO3TYe10
— The Kobeissi Letter (@KobeissiLetter) April 23, 2024
Deficit spending has been sponsoring US Consumer spending and GDP growth by $2 trillion a year.
Deficits as a % of GDP were recently higher than during World War II.
The US debt has been rising by $1 trillion every 100 days since June
This is remarkablet.co/LblUXGRjE8
— Global Markets Investor (@GlobalMktObserv) April 23, 2024
Billionaire Ray Dalio says he's owning gold to hedge the risk of debt and inflation crises.
— Gold Telegraph ⚡ (@GoldTelegraph_) April 23, 2024
Views: 106