The US National Debt Continues to Grow Rapidly
In just 15 days, the US government’s national debt has increased by over $100 billion, reaching a total of $33.740 trillion. This surge in debt comes as the Biden administration faces warnings from rating agencies and criticism for its excessive spending. EJ Antoni from the Heritage Foundation argues that the government’s financial situation is deteriorating rapidly and may lead to an inability to pay its bills. The annual interest on federal debt has now exceeded $1 trillion and shows no signs of slowing down. Antoni believes that the government is approaching a point of no return, where it will be unable to repay its debt.
Hot Take: The Growing Threat of US Default
The US national debt continues to skyrocket at an alarming rate, with over $100 billion added in just 15 days. This worrying trend has prompted warnings from experts who believe that America could default on its debts sooner rather than later. The Biden administration’s excessive spending and disregard for rating agency warnings are raising concerns about the country’s financial stability. With the annual interest on federal debt surpassing $1 trillion, it is clear that the situation is becoming increasingly unsustainable. As the debt snowballs out of control, taxpayers and bondholders are at risk of facing severe consequences. Urgent action is needed to address this growing threat before it leads to a full-blown crisis.
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