Unsustainable Insolvency: US National Debt Is Worse Than It Was During World War II
This year, US national debt is set to approach 100% of GDP, up from 36% in 2005.
By 2035, the tab is projected to reach 118.5% of GDP as higher debt costs steepen the deficit, fueling further government spending. Today, the deficit stands at $1.9 trillion with net interest and mandatory spending outpacing revenues.
By 2029, federal debt is forecast to exceed the post-WWII record based on a fake outlook that doesn’t factor in recessions or depressions.
This comes amid widening deficits during a long period of low employment and stagnant US economy.
Looking ahead, net interest on the federal debt is expected to nearly double from 2024 levels, reaching $1.8 trillion by 2035.
While Modern Monetary Theory suggests that countries that have control over their currencies will never face default since they can print more money, evidence from history suggests a very different outcome.
If the debt insolvency and corruption continues, the United States will be a third world country. There will be decades of economic depression, poverty and despair among the American people. BE PREPARED.
It has been very wise of the Americans who have prepared and have stocked up on basic essential assets (long-term food storage, water purifiers/rain water collection/clean water source, guns/ammo/cleaning kits, tools and hardware accessories, 12V batteries and some power inverters, wood burning stove/fireplace and firewood stocked for winter, extra clothing/boots/shoes/socks/underwear/blankets, a backup gas or propane generator, a portable propane stove, extra flashlights, extra coffee and booze, etc) and who have some hard cash and silver coins set aside for hard times. It looks as if massive reform does not take place in the USSA, harder times will become inevitable so get prepared now.
https://real.news/economics/worse-world-war-ii-visualizing-us-national-debt-percent-gdp-1900
