$524,700,000,000 Added To US Debt in 21 Days As Senator Warns ‘Death Spiral’ Could Bury Future Generations – The Daily Hodl

The US government is piling debt onto its balance sheet, adding more than half a trillion dollars in debt in just three weeks.

New numbers from the government’s FiscalData platform show the country’s debt surged from $32.9886 trillion on September 14th to $33.5133 trillion on October 5th – representing a $524.7 billion increase.

Amid the country’s growing debt burden, Senator Cynthia Lummis warns that if left unchecked, America’s spending craze could hammer future generations.

“The deficit doubling to $2 trillion in the last year should be a flashing red warning sign to everyone who cares about America’s future.

Our nation is quickly approaching a debt death spiral that will bury future generations. We need to end Washington’s spending addiction.” 

The Republican Senator is not the only one sounding the alarm about the nation’s rising debt levels.

In a new CNBC interview, billionaire Ray Dalio says the US is now heading toward a fiscal crisis.

“We’re going to have a debt crisis in this country… How fast it transpires, I think, is going to be a function of that supply-demand issue, so I’m watching that very closely.”

According to the Federal Reserve Bank of St. Louis,  the federal government is currently paying $909.5 billion in interest on its outstanding public debt per quarter.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines
&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://dailyhodl.com/2023/10/07/524700000000-added-to-us-debt-in-21-days-as-senator-warns-death-spiral-could-bury-future-generations/