Here is a summary of the in-content linked Reddit article not this posted article. Hope it helps if not OP, wonder what did AI miss.
The post titled "The Monetary Event Horizon" discusses the growing U.S. national debt and its potential implications. Here are the main points:
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The U.S. national debt has reached a staggering $32.51 trillion, growing at a rate of $27 billion per day.
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If the debt continues to grow at this rate, by 2025, the U.S. will be paying $1.78 trillion in interest alone.
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The interest expense paid for the last twelve months hit $852 billion, a 28% compounded annual growth rate.
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The U.S. paid $122 billion on interest alone in June of 2023, which accounted for 18% of all Federal outlays for the month.
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The debt level is increasing faster, and this time, it’s happening without a crisis to spur massive government borrowing.
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The recent surge in new Treasury issuances could indicate that the U.S. is entering a debt spiral.
With the suspension of the debt limit, the Treasury can borrow without any fiscal constraints.
The post suggests that this situation will only worsen the crisis and increase the growth rate of the money supply, causing inflation and dragging the U.S. deeper into a financial crisis.
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Here is a summary of the in-content linked Reddit article not this posted article. Hope it helps if not OP, wonder what did AI miss.
The Reddit post titled "The Monetary Event Horizon" on the Superstonk subreddit discusses the growing U.S. national debt and its potential implications. Here are the main points:
-
The U.S. national debt has reached a staggering $32.51 trillion, growing at a rate of $27 billion per day.
-
If the debt continues to grow at this rate, by 2025, the U.S. will be paying $1.78 trillion in interest alone.
-
The interest expense paid for the last twelve months hit $852 billion, a 28% compounded annual growth rate.
-
The U.S. paid $122 billion on interest alone in June of 2023, which accounted for 18% of all Federal outlays for the month.
-
The debt level is increasing faster, and this time, it’s happening without a crisis to spur massive government borrowing.
-
The recent surge in new Treasury issuances could indicate that the U.S. is entering a debt spiral.
With the suspension of the debt limit, the Treasury can borrow without any fiscal constraints.
The post suggests that this situation will only worsen the crisis and increase the growth rate of the money supply, causing inflation and dragging the U.S. deeper into a financial crisis.
Please note that this is a summary of the main points and there might be more detailed information in the individual pages of the post. If you want more specific details, I can load individual pages for you.
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