It doesn’t take a genius to know we are headed for bankruptcy fast, but hearing a genius say it is helpful. Of course, we will end up like all the Republics before that fell, and we can’t keep printing money.
We use 25% of our revenue to pay the interest on debt, and we haven’t paid off a dime on the debt. Our spending is far greater than our growth, and our debt is $36 trillion. The deficit spending of $3 trillion in a year will affect the necessities the government is supposed to provide. Instead, they’re providing for millions of people coming illegally, many of whom are criminals and terrorists.
This is a national security threat.
The government is bloated and wasteful. We have politicians who want money to buy votes. They have no discipline, and we keep voting them back into office as they pass trillion dollar bills that do nothing to improve the nation.
Common sense is all you need to know that this is unsustainable and must be addressed quickly.
America is currently headed for bankruptcy super fast https://t.co/Tm6JFJ6mef
— Elon Musk (@elonmusk) November 23, 2024
ECONOMICS > POLITICS
No election can pay off America’s $175T in debt.
Only the printing press can.Because as Elon, Dalio, and others realize…the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility,… https://t.co/ApT4kgPKEy pic.twitter.com/5THCb6SO1q
— Balaji (@balajis) July 22, 2024
For anyone who’s still counting:
The US government borrowed $47 billion of debt yesterday alone.
Since the debt ceiling crisis “ended” in June 2023, total US debt is up ~$3 trillion.
Since October 1st, the US government has borrowed ~$10 billion PER DAY.
The worst part?
For… pic.twitter.com/U9ZXuCwc7H
— The Kobeissi Letter (@KobeissiLetter) January 27, 2024
HOLY COW
US government net interest payments on federal debt hit a NEW RECORD of $1.12 TRILLION in Q3 2024.
The interest has DOUBLED in just 3 years.
Interest costs now account for nearly 20% of federal revenues, the most in 31 YEARS.
Insane.https://t.co/vlghCZcVsg
— Global Markets Investor (@GlobalMktObserv) November 23, 2024
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