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Federal Debt Went Up $100 Billion in Only Four Days

By John Livingston
March 6, 2024

Federal debt is up $100 billion in simply 4 days. We’re on track for $37 trillion by the end of this year. And $40 trillion by the end of next, Peter St. Onge alerts.

If by the grace of God Trump is chosen in November he will be confronted with a 40 Trillion dollar financial obligation and growing at a rate of One trillion every 90-100 days. Ot’s unsustainable. He may likewise be confronted with a massive economic crisis caused by this spiraling debt and the inability of the Treasury to service itE TRILLION every 100 days. You can be specific that the organized crime family masquerading as the Democratic party will do everything possible to construct any efforts by Trump to reduce and contain this debt spiral.

A prominent Wharton professor is warning of a “meltdown” as early as 2025 as debt swamps financial markets.

In 2017, the national debt in the United States stood at approximately 19 trillion dollars, which sparked concerns among some economists, including Paul Krugman, that the country was not investing enough in its future. The fear is that the United States may eventually face a financial crisis, potentially sooner rather than later if measures are not taken to address the issue.

“Juan Gomez Wharton, senior vice Dean of Research at Wharton, warns the $34 trillion debt, soon to be 35 trillion, could trigger a spiral like we saw in Britain in 2022 when national debt fears spiked interest rates, sparking panic selling in bonds that threatened to crash the economy and bankrupt banks and even pensions …”

St. Onge mentioned that the CEOs of Bank of America and JP Morgan, the top two in the nation, have raised concerns about a potential market upheaval due to increasing debt as we approach a $5 trillion fiscal challenge by the end of next year.

“Keep in mind that’s all counting current projections. In other words, it assumes no new trillion-dollar spending surprises and it also assumes no recession, so the fabled soft landing, if instead a recession does hit, then going by history, the deficit grows potentially by another couple trillion as social spending spikes and tax collection slump.

“Even without a recession and those new spending surprises, we’re looking at 37 trillion in debt by the end of this year and 40 trillion by the end of next year. It’s worth noting that’s about twice the pace that the Congressional Budget Office forecast …

The forecast in question predicts that the federal debt will reach a staggering $144 trillion by 2053, a figure that is bound to raise eyebrows. To put it into perspective, that amount exceeds the total value of all the money in existence and represents a significant portion of the total assets accumulated by humanity. Moreover, the rate at which we are currently accumulating debt is only accelerating, making it clear that this is an issue that needs to be addressed with urgency.

At this stage, Washington no longer shows any signs of responsible financial management. There is a race among politicians to see who can deplete the treasury the most quickly.