We Are Heading for an Economic Collapse at Warp Speed as Alarming Facts are Revealed
In This Article:
- The Dire State of U.S. National Debt
- Catastrophic Economic Implications
- Root Causes of the Explosive Debt Growth
The United States has reached a critical and alarming milestone: a national debt of $35 trillion.
This colossal figure not only breaks records but also signals an impending economic catastrophe.
The Dire State of U.S. National Debt
The gross national debt of the United States has now soared past $35 trillion, a number that is almost unfathomable.
House Budget Committee Chairman Jodey Arrington (R-TX) expressed grave concern, noting the debt equates to $104,497 per person, $266,275 per household, and $483,889 per child.
In just one year, the debt has ballooned by $2.35 trillion, averaging $196 billion in new debt every month.
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Catastrophic Economic Implications
This unprecedented level of debt spells disaster for the U.S. economy.
It threatens to drive up interest rates, reduce national savings, and compromise national security. The federal debt includes both public and intragovernmental holdings, placing an enormous burden on future generations.
Root Causes of the Explosive Debt Growth
The potential for higher taxes and severe currency debasement looms large as the debt spirals out of control.
The rapid escalation of the national debt is attributable to several factors, with the government’s irresponsible response to the COVID-19 outbreak playing a significant role due to massive welfare spending.
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However, the path to this fiscal abyss began long before the that, fueled by structural issues such as unsustainable entitlement programs, out-of-control government spending, and impotent economic policies that fail to generate sustainable tax revenues.
The Bottom Line
The U.S. national debt exceeding $35 trillion is not just a number—it’s a harbinger of economic disaster.
The enormity and implications of this debt demand urgent and decisive action.
Without immediate intervention, the United States faces a future marked by financial instability, higher taxes, and severe austerity measures.
