The Growing Burden of US Debt: A Looming Crisis for Future Generations
TL;DR Summary
The US government has added over $524.7 billion to its debt in just three weeks, bringing the total debt to $33.5133 trillion. Senator Cynthia Lummis warns that the country's spending craze could lead to a debt death spiral that will burden future generations. Billionaire Ray Dalio also predicts a fiscal crisis in the US, emphasizing the importance of monitoring the supply-demand issue. The federal government currently pays $909.5 billion in interest on its outstanding public debt per quarter.
Topics:business#debt-death-spiral#economy#fiscal-crisis#future-generations#spending-addiction#us-debt
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