The US Is Over $36 Trillion In Debt
The United States is in big trouble financially. According to Elon Musk, America is headed for Bankruptcy. With the amount of National Debt the US is carrying at $36 trillion dollars and is rising daily, it is hard to argue with his assessment.
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This website contains affiliate links.
When you click on these links and make a purchase, I may receive a commission at no additional cost to you.
I only promote companies that I have personally used or researched and believe will add value to our readers.
Disclosure: The content I provide here isn’t financial advice and cannot be taken as such. Please speak to your financial advisor before making any investment decision.
Also, note that every investment comes with its own risks and drawbacks. Lastly, I would like to remind you that past results cannot guarantee future returns.
Also, note that every investment comes with its own risks and drawbacks. Lastly, I would like to remind you that past results cannot guarantee future returns.
A Look At The Rising US National Debt
As of Sept, 2024, the US DEBT IS OVER $36 TRILLION (SOURCE) AND RISING!
That means that EVERY U.S. CITIZEN OWES:
That means that EVERY U.S. CITIZEN OWES:
$103,831
A History of Congress's Wild
Spending Habits Since 2015
2015 - $18.1 Trillion
2016 - $18.9 Trillion
2017 - $20.0 Trillion
2018 - $20.5 Trillion
2019 - $22.0 Trillion
2020 - $23.2 Trillion
2021 - $27.7 Trillion
2022 - $29.6 Trillion
2023 - $34.0 Trillion
2024 - $35.0 Trillion
Now The Bad News
With the cost to service that debt, (not paying it down) having been reached - and surpassed - the $1 Trillion dollar mark, (Source) the spending is NOT SLOWING DOWN, but is accelerating!
At current rate of spending, the U.S. national debt will grow by an astounding rate of about $1 trillion every 100 days, equal to roughly $3.6 trillion per year.
At current rate of spending, the U.S. national debt will grow by an astounding rate of about $1 trillion every 100 days, equal to roughly $3.6 trillion per year.
The Rise Of Interest Payments
In 2024, the government is paying MORE ($1.1 Trillion - Source ) in INTEREST PAYMENTS than for:
Discretionary - $948 Billion
Medicare - $858 Billion
Defense Discretionary- $849 Billion
Medicaid- $755 Billion
Other Mandatory- $707 Billion
Income Security- $374 Billion
Only Social Security ($1.452 Trillion) gets more, but if this wild spending is not curtailed, it will not be but a few years before the interest payment will outstrip even social security.
Discretionary - $948 Billion
Medicare - $858 Billion
Defense Discretionary- $849 Billion
Medicaid- $755 Billion
Other Mandatory- $707 Billion
Income Security- $374 Billion
Only Social Security ($1.452 Trillion) gets more, but if this wild spending is not curtailed, it will not be but a few years before the interest payment will outstrip even social security.
What That Means
It means the Government will print more money! So every dollar in your pocket becomes worth less and less - and buys less and less. This is inflation at work ...
The only way you, as a small investor, can protect yourself and your family is by putting a chunk of your savings into silver or gold - preferably both - to diversify
The only way you, as a small investor, can protect yourself and your family is by putting a chunk of your savings into silver or gold - preferably both - to diversify
Now For The
REALLY BAD NEWS
The U.S. Dollar is FIAT money (FIAT MONEY SYTEM DEFINED) AND ONLY HAS VALUE IF ITS CITIZENS BELIEVE IT HAS VALUE.
HOW MUCH VALUE DOES WILL THE THE DOLLAR HAVE WHEN IT'S CITIZENS REALIZE IT HAS NO VALUE BECAUSE OF THE MASSIVE DEBT WE ARE CARRYING?
And that WILL HAPPEN when the U.S. Government can no longer service that debt AND Fully PAY its other obligations?
Obligations Like: Medicare, Defense Discretionary, Medicaid, Other Mandatory, and Income Security?
Think Hyper Inflation. I cannot see into the future to predict how much value the dollar will lose, but it will affect EVERYONE, especially those on Fixed incomes or those with Paper IRAs.
HOW MUCH VALUE DOES WILL THE THE DOLLAR HAVE WHEN IT'S CITIZENS REALIZE IT HAS NO VALUE BECAUSE OF THE MASSIVE DEBT WE ARE CARRYING?
And that WILL HAPPEN when the U.S. Government can no longer service that debt AND Fully PAY its other obligations?
Obligations Like: Medicare, Defense Discretionary, Medicaid, Other Mandatory, and Income Security?
Think Hyper Inflation. I cannot see into the future to predict how much value the dollar will lose, but it will affect EVERYONE, especially those on Fixed incomes or those with Paper IRAs.
Note From The Author Of This Website:
My research on the National Debt, GPD and The Trade Deficit has been a real eye opener. There are those individuals who claim that the cost of the national debt is low and is NOT a threat to the US Economy or Dollar. I think those people have an agenda that is not in the interest of the average American.
I trust Elon Musk's opinion far more than I do those people. The debt is increasing at such a pace that in another 10 years the interest payment could consume 75% of taxable income.
Beyond Scary.
My research on the National Debt, GPD and The Trade Deficit has been a real eye opener. There are those individuals who claim that the cost of the national debt is low and is NOT a threat to the US Economy or Dollar. I think those people have an agenda that is not in the interest of the average American.
I trust Elon Musk's opinion far more than I do those people. The debt is increasing at such a pace that in another 10 years the interest payment could consume 75% of taxable income.
Beyond Scary.