The US Is Deep In Debt
There is a battle happening right NOW with countries attempting to ditch the dollar, with China in the lead. (Source)
Whether they will be successful is in doubt, according to Morgan Stanley (Source)
While this is being played out worldwide, they ARE NOT are the biggest threat to the U.S. Economy or the U.S. dollar.
Whether they will be successful is in doubt, according to Morgan Stanley (Source)
While this is being played out worldwide, they ARE NOT are the biggest threat to the U.S. Economy or the U.S. dollar.
Think Uncontrolled Spending
THE U.S. CONGRESS IS OVERSPENDING TO THE POINT OF BURYING THE U.S. IN DEBT!
As of Sept, 2024, the US DEBT IS OVER $35 TRILLION (SOURCE) AND RISING!
That means that EVERY U.S. CITIZEN OWES:
As of Sept, 2024, the US DEBT IS OVER $35 TRILLION (SOURCE) AND RISING!
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, 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.
What Will Happen?
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.
The above chart is 2 years old and DOES NOT reflect the INCREASED spending of the US Government, but still shows that the US Debt Interest payments will exceed all other spending, just faster than expected.
What That Means
It Means That Congress Has Buried THE United States of American (and the citizens) Deep In Debt
In fact The US is so deep in debt they may NEVER be able to pay that debt off.
(NOTE: THEY ARE NOT PAYING THAT DEPT DOWN, they are only paying the interest (called servicing the debt).
We DO NOT need China, Russia or Brazil, and others who are attempting to devalue or harm the U.S. Economy and U.S. Dollar.
In fact The US is so deep in debt they may NEVER be able to pay that debt off.
(NOTE: THEY ARE NOT PAYING THAT DEPT DOWN, they are only paying the interest (called servicing the debt).
We DO NOT need China, Russia or Brazil, and others who are attempting to devalue or harm the U.S. Economy and U.S. Dollar.
CONGRESS IS DOING THAT FOR THEM!
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.
IS GOLD THE ANSWER?
CENTRAL BANKS ARE ON A GOLD BUYING BUYING SPREE! (Source)
Russia and China lead the nations that have bought gold (Source)
Europe has been preparing a Gold Standard since the 1970s. (Source)
Today, Gold and & Silver prices are the highest they have every been. (CHART)
Why?
Gold & Silver HAVE INTRINSIC VALUE, and their value is rising. That is the REASON why nations and millionaires are gobbling up Gold.
Is it time to consider doing the same?
Russia and China lead the nations that have bought gold (Source)
Europe has been preparing a Gold Standard since the 1970s. (Source)
Today, Gold and & Silver prices are the highest they have every been. (CHART)
Why?
Gold & Silver HAVE INTRINSIC VALUE, and their value is rising. That is the REASON why nations and millionaires are gobbling up Gold.
Is it time to consider doing the same?
Note From The Author Of This Website: My research on the National Debt 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 cannot possible see how the is true. The debt is increasing at such a pace that in another 10 years the interest payment could consume 75% of taxable income.
When one adds to that the Debt to GPD ratio, it is even more concerning.
Beyond Scary.
When one adds to that the Debt to GPD ratio, it is even more concerning.
Beyond Scary.