US National Debt Is Over $35 Trillion
As of Sept, 2024, the US DEBT IS OVER $35 TRILLION AND RISING!
That means that EVERY U.S. CITIZEN OWES:
That means that EVERY U.S. CITIZEN OWES:
$103,831
A History of Congress's Wild
Spending Habits Since 2015
2015 - $18.1 Trillion
2016 - $18.9 Trillion
2017 - $20.0 Trillion
2018 - $20.5 Trillion
2019 - $22.0 Trillion
2020 - $23.2 Trillion
2021 - $27.7 Trillion
2022 - $29.6 Trillion
2023 - $34.0 Trillion
2024 - $35.0 Trillion
Now The Bad News
With the cost to service that debt, (not paying it down) having been reached - and surpassed - the $1.1 Trillion dollar mark (Source), the spending is NOT SLOWING DOWN, but is accelerating!
At current rate of spending, the U.S. national debt will grow by an astounding rate of about $1 trillion every 100 days, equal to roughly $3.6 trillion per year.
Right now, the government is paying MORE in INTEREST PAYMENTS than for:
Discretionary - $948 Billion
Medicare - $858 Billion
Defense Discretionary- $849 Billion
Medicaid- $755 Billion
Other Mandatory- $707 Billion
Income Security- $374 Billion
Only Social Security ($1.452 Trillion) gets more, but if this wild spending is not curtailed, it will not be but a few years before the interest payment will outstrip even social security.
At current rate of spending, the U.S. national debt will grow by an astounding rate of about $1 trillion every 100 days, equal to roughly $3.6 trillion per year.
Right now, the government is paying MORE in INTEREST PAYMENTS than for:
Discretionary - $948 Billion
Medicare - $858 Billion
Defense Discretionary- $849 Billion
Medicaid- $755 Billion
Other Mandatory- $707 Billion
Income Security- $374 Billion
Only Social Security ($1.452 Trillion) gets more, but if this wild spending is not curtailed, it will not be but a few years before the interest payment will outstrip even social security.
Can President Trump Policies
Reverse That Trend?
The The Short Answer is Yes - BUT
It will take time…The President will be facing an uphill battle to get his people in place while fighting the entrenched Bureaucrats WHO DO NOT WANT CHANGE.
Knowing DC Politicians, expect at least 2 years BEFORE and his policies are implemented.
It will take time…The President will be facing an uphill battle to get his people in place while fighting the entrenched Bureaucrats WHO DO NOT WANT CHANGE.
Knowing DC Politicians, expect at least 2 years BEFORE and his policies are implemented.
Can The US Debt Be Managed?
Given the complexity and the current structure of the U.S. economy, completely paying off the national debt in the foreseeable future appears unlikely.
Instead, the focus needs to be on managing the debt to ensure it does not grow faster than the economy. That is not happening at this time.
If this trend is not reversed, soon the ability to service the debt through interest payment will be exceeded and that will not end well.
Can President Trump's administration reverse that trend? Only time will tell. It will be an uphill battle with a lot of entrenched politicians fighting that change.
In the meantime, gold has historically been viewed as a safe-haven asset and a hedge against inflation and currency devaluation.
Since gold is an effective hedge when there's uncertainty about national debt and fiscal policy, now would be a good time investigate the possibilities.
Instead, the focus needs to be on managing the debt to ensure it does not grow faster than the economy. That is not happening at this time.
If this trend is not reversed, soon the ability to service the debt through interest payment will be exceeded and that will not end well.
Can President Trump's administration reverse that trend? Only time will tell. It will be an uphill battle with a lot of entrenched politicians fighting that change.
In the meantime, gold has historically been viewed as a safe-haven asset and a hedge against inflation and currency devaluation.
Since gold is an effective hedge when there's uncertainty about national debt and fiscal policy, now would be a good time investigate the possibilities.
Note From The Author Of This Website: My research on the National Debt has been a real eye opener. There are those individuals who claim that the cost of the national debt is low and is NOT a threat to the US Economy or Dollar. I cannot possible see how the is true. The debt is increasing at such a pace that in another 10 years the interest payment could consume 75% of taxable income. Beyond Scary.
