US Debt Crisis Worsens as Watchdog Warns of Market Shock on Nostr: The US Government's Growing Debt Burden and Unsustainable Spending =============== ...
The US Government's Growing Debt Burden and Unsustainable Spending
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#7b8e26cc ver:1.07
The US government's growing debt burden and unsustainable spending is a major concern. Net interest on the federal debt has surpassed spending on defense and Medicare, reaching $514 billion in the first seven months of FY2024. The national debt stands at $34.8 trillion, with interest costs projected to reach $870 billion by year-end. Borrowing money at interest worsens the situation, making the government effectively insolvent. Radical solutions like issuing trillion-dollar coins or implementing a financial transaction tax could help address the problem. Irresponsible spending growth, including the Biden administration's plans, is unsustainable and could lead to a breaking point. Limiting spending and growing the economy are crucial to reducing the debt burden. #DebtCrisis #UnsustainableSpending #NationalDebt...
#newstr #UsGovernmentDebt #InterestCosts #Borrowing #Printing #TrilliondollarCoins #FinancialTransactionTax #BidenAdministration #GovernmentSpending #Taxes #EconomicSustainability
https://here.news/story/7b8e26cc?ver=1.07
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#7b8e26cc ver:1.07
The US government's growing debt burden and unsustainable spending is a major concern. Net interest on the federal debt has surpassed spending on defense and Medicare, reaching $514 billion in the first seven months of FY2024. The national debt stands at $34.8 trillion, with interest costs projected to reach $870 billion by year-end. Borrowing money at interest worsens the situation, making the government effectively insolvent. Radical solutions like issuing trillion-dollar coins or implementing a financial transaction tax could help address the problem. Irresponsible spending growth, including the Biden administration's plans, is unsustainable and could lead to a breaking point. Limiting spending and growing the economy are crucial to reducing the debt burden. #DebtCrisis #UnsustainableSpending #NationalDebt...
#newstr #UsGovernmentDebt #InterestCosts #Borrowing #Printing #TrilliondollarCoins #FinancialTransactionTax #BidenAdministration #GovernmentSpending #Taxes #EconomicSustainability
https://here.news/story/7b8e26cc?ver=1.07