The United States is hurtling towards a catastrophic financial debt disaster, as shocking evidence reveals a deepening crisis. With soaring interest rates, record-breaking interest payments, and the potential for debt servicing costs to surpass major government expenditures, the nation stands on the brink of a geo-economic collapse. Treasury Secretary Janet Yellen’s dismissal of concerns only adds fuel to the fire as the endgame fast approaches. Is America now facing a global downfall of its own making?
What You Will Learn Here in Part 1
- Government outlays in the United States have surged by 15% in June alone, reaching $646 billion.
- Tax receipts have plummeted by 9.2%, resulting in a 7.3% drop in government receipts year-to-date.
- The US budget deficit nearly tripled in June, reaching $228 billion compared to the previous year.
- The cumulative deficit for the first nine months of the fiscal year stands at $1.393 trillion, the third highest on record.
- The escalating debt burden threatens the stability of the US economy and its global standing.
- Higher deficits increase reliance on borrowing and lead to rising interest payments, straining the federal budget.
In the latest monthly US Budget Deficit report, alarming figures reveal a deepening financial crisis for the United States. Government outlays surged by 15% to $646 billion in June, a staggering increase of almost $100 billion from the previous year. Meanwhile, tax receipts have plummeted by 9.2% from $461 billion to $418 billion, marking the largest drop in tax revenues without entering a recession. This article delves into the dire consequences of these developments, shedding light on the imminent financial debt disaster that the United States faces.
Surging Government Outlays and Shrinking Tax Revenues
Government outlays have experienced an unprecedented surge, rising by 15% in June alone. Tax receipts have suffered a substantial decline of 9.2%, resulting in a 7.3% drop in government receipts year-to-date, the largest since the June 2020 recession. The substantial increase in government spending coupled with diminishing tax revenues has contributed to the ballooning budget deficit.
The Budget Deficit has Tripled vs. Official Estimates
In June, the US budget deficit nearly tripled from $89 billion to $228 billion compared to the previous year. This significant deficit surpasses the consensus estimate of $175 billion, indicating a deepening financial crisis. The unexpected incremental $50 billion deficit raises questions about the allocation of funds and potential money laundering activities.
Cumulative Deficit is Third Highest on Record
The cumulative deficit for the first nine months of the fiscal year is already the third highest on record. Surpassed only by the government pandemic shutdown crisis of 2020 and 2021, the fiscal 2022 year-to-date deficit stands at $1.393 trillion, marking a 170% increase compared to the same period last year. These alarming figures highlight the urgency of addressing the growing debt burden – a return to gold-backed money and a Global Currency Reset (GCR).
From Financial Debt Disaster to Our GCR
The escalating debt burden threatens the stability of the US economy and its global standing. Higher deficits increase the reliance on borrowing, leading to rising interest payments that strain the federal budget. The United States is seriously facing insolvency and potential crash of the US Dollar – not to mention a total collapse of the global fiat debt currency system.
The United States finds itself rapidly approaching a financial debt disaster as surging government outlays and shrinking tax revenues contribute to a widening budget deficit. With the cumulative deficit already ranking as the third highest on record, how much longer can the current financial system survive without Our GCR?
[To be continued in Endgame Part 2]
