U.S. National Debt is currently $33.5 TRILLION – and it’s rising by one BILLION dollars PER HOUR.
At the current pace, the US would add $1 trillion in Federal debt every 45 days.
U.S. Gross Domestic Product (GDP) – which represents the value of the goods and services produced in the United States – is currently rising by $1.6 billion every day – or $68 million per hour.
U.S. Debt is therefore rising 15 x faster than the U.S. economy is growing.
With interest rates rising to 20-year highs, we are going down a very dangerous path.
High Interest Rates Make $33.5 TRILLION
of US Debt Unmanageable
Interest expense has increased more in the last three years than in the 50 years prior.
Deficit Spending is Accelerating
The US posted its 3rd largest deficit on record in 2023, spending $1.7 TRILLION more than it brought in.
The US is now spending 44% of GDP per year, the same levels as World War 2.
Based on these economic conditions, here how this will probably play out: inflation will go up-up-up – and so will mortgage rates.
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