JUST IN: US House passes bill to suspend the national debt ceiling through January 1st, 2025.
This bill is expected to pass through the Senate which would officially make the debt ceiling UNCAPPED until 2025.
While a default has been avoided, the debt crisis is getting worse.
— The Kobeissi Letter (@KobeissiLetter) June 1, 2023
US national debt per citizen 10 years ago: $52k
This year it will end up being: about $95k
What's the end game here? pic.twitter.com/0MeMjfPiw7
— Genevieve Roch-Decter, CFA (@GRDecter) May 31, 2023
PAULA BOLYARD: Republicans React to House Passing Debt Deal in Late-Night Vote. “The Congressional Budget Office on Tuesday said the legislation would result in $1.5 trillion in savings over a decade.”
Congress will spend more than $70 trillion over the next ten years so these “savings” — a tiny reduction in the rate of growth, really — are basically a rounding error.
Robert Kiyosaki discusses the three stages of dollar devaluation and what he is concerned about.
— Wall Street Silver (@WallStreetSilv) May 31, 2023
New survey shows Americans overwhelming reject CBDC's by up to 74% as they learn how much power it gives bureaucrats to control our lives, our speech, even our ability to protest.t.co/8JiqWQFC9O
— Peter St Onge, Ph.D. (@profstonge) May 31, 2023
🚨🚨🚨
These 10 Republicans who sponsored HR-1122 that would actually green-light a contractor-built, Fed controlled, Central Bank Digital Current (CBDC).
Contact them and suggest they rewrite HR-1122 into a blanket ban like Mike Lee's No CBDC Act.@GOPMajorityWhip…
— Wall Street Silver (@WallStreetSilv) May 31, 2023
A $4 Trillion Spending Splurge to Bankrupt America
President Joe Biden and Speaker of the House Kevin McCarthy are each loudly proclaiming victory in the deal they finally struck this weekend to raise the debt ceiling. MARCUS: Let’s be honest: this 11th-hour compromise was as inevitable as it is depressing, with no real winner, and just one big loser – the American people.
Debt Ceiling Deal Keeps Dollar Locked in Devaluation Spiral
Federal obligations will be “paid” with ever more rapidly devaluing dollars. The nation is on a one-way road to ongoing currency debasement.