rajatsonifnance on Nostr: The US is in a debt spiral. It borrowed so much money that it has to borrow more to ...
The US is in a debt spiral.
It borrowed so much money that it has to borrow more to pay the interest on the money that was borrowed in the first place.
This is like using a credit card to pay off a previous credit card balance.
In a few decades, $35 trillion of debt will feel like nothing, just like an additional $100B of debt feels like nothing today and $100M of debt 50 years ago.
We may see the quadrillion-dollar debt level within our lifetimes 🤯🤯
It borrowed so much money that it has to borrow more to pay the interest on the money that was borrowed in the first place.
This is like using a credit card to pay off a previous credit card balance.
In a few decades, $35 trillion of debt will feel like nothing, just like an additional $100B of debt feels like nothing today and $100M of debt 50 years ago.
We may see the quadrillion-dollar debt level within our lifetimes 🤯🤯