Saturday, December 28
    News Junkie Paradise – Whatfinger News - More news daily than any other news site on Earth - CLICK HERE

    America’s Financial Crossroads: Urgent Calls for Bipartisan Solutions as National Debt Soars Past $34 Trillion

    JimBy Updated: Whatfinger News 8 Mins Read

    The Democrats and Deep State re Doing All They Can To Destroy The U.S. Dollar, And Economy

    The United States is facing a critical financial milestone, as its national debt has surged past an alarming $34 trillion, according to data released by the U.S. Department of the Treasury. This growing debt has become a pressing concern for politicians, given that the cost of servicing this debt is consuming an increasingly significant portion of the federal budget. The plan was put into motion decades ago. It involves making the U.S. go bankrupt so the Democrats can attempt their Marxist dreams.

    US national debt tops $34T for first time in history, soaring to unsustainable levels that guarantee collapse of the U.S. Dollar and financial reset. – Christopher Greene

    Confirming the surpassing of the $34 trillion mark on Friday, after reaching $33 trillion in September, the U.S. Treasury’s recent announcement has triggered apprehension among experts and advocates. Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, emphasized the urgency for lawmakers and citizens to take notice of this new milestone.

    In a statement on Tuesday, MacGuineas urged policymakers to consider measures such as raising taxes, reducing spending, or establishing a fiscal commission to address the escalating debt crisis. She emphasized the importance of making tough decisions to strengthen the nation in the long run, rather than opting for the easy way out.

    Americans now pay more in debt service than even our bloated military spending — yes, including all the wars. In the past 2 months alone, Treasury’s shelled out $170 billion in interest payments. Triple what it was just 2 years ago. With $2 trillion deficits projected forever plus old debt rolling into new expensive debt, they’ll keep going until they break it. – Peter St Onge (see clip below)

    Similarly, Michael Peterson, CEO of the Peter G. Peterson Foundation, expressed concern about the nation’s unsustainable financial trajectory. Noting that the debt had jumped from $33 trillion in September 2023 to over $34 trillion, Peterson called attention to the need for immediate action. He stressed that the continuous increase in debt, coupled with the Treasury’s projection of borrowing nearly $1 trillion more by the end of March, should be a red flag for policymakers concerned about the country’s future.

    U.S. national debt reaches $34 trillion and is expected to triple in borrowing costs over the next decade. Debt payments could rise to $5.4 trillion by 2053. Republicans blame tax breaks for corporations, while Biden plans to cut the deficit. – Daily Wire

    Moody’s Investors Service, in November 2023, issued a negative credit outlook for the federal government, citing large deficits, high interest rates, and a dwindling political interest in addressing the nation’s deficit. Fitch Ratings had already downgraded the government’s credit rating from AAA to AA+ in August 2023, pointing to the high national debt, deficits, and an erosion of governance.

    The financial burden on taxpayers is exacerbated by the rising cost of borrowing money, which is consuming an increasing share of the federal budget. Alongside the escalating costs of Social Security and Medicare, this phenomenon is contributing to the surge in the national deficit.

    In fiscal year 2023, interest costs on the country’s debt soared to a record-high $879 billion, marking a 23% increase. As of September 2023, interest costs accounted for 14% of total federal spending. This trajectory is expected to continue, with the Congressional Budget Office projecting that interest costs will surpass all mandatory spending, discretionary outlays, and spending on Social Security by 2027, 2047, and 2051, respectively.

    The new national debt record – which measures what the U.S. owes its creditors — hit $34T Friday afternoon, according to new data published by Treasury. By comparison, just four decades ago, the national debt hovered around $907B. Incredible job performance by these two… – Noble Road

    Advocating for a bipartisan fiscal commission, Peterson emphasized that such a comprehensive approach would allow lawmakers to explore revenue and spending reforms across the entire budget. This call for unity echoes discussions from the previous year, highlighting the potential for breaking through partisan gridlock and addressing the nation’s financial challenges collaboratively.

    The U.S. Government Accountability Office’s audit in February 2023 painted a bleak picture, stating that the federal government “continues to face an unsustainable long-term fiscal path.” This underscores the need for decisive action to stabilize the nation’s financial future.

    Be prepared for anything, including lockdowns with your own Emergency Med kit – see Wellness Emergency Kit (includes Ivermectin and other essential drugs – get approved over the phone – Dr. McCullough’s company!) 🛑

    To Sum It All Up: the United States stands at a critical juncture as its debt surpasses $34 trillion. The urgency for bipartisan action is echoed by experts, advocates, and financial institutions alike. Policymakers face the challenge of implementing measures such as tax increases, spending cuts, and the establishment of a fiscal commission to address the escalating debt crisis and ensure the long-term prosperity and security of the nation. No matter what, the United States is about to be a very different nation if the Deep State and Democrats are successful.  Americans will not accept dictatorship in any way, so trying times are dead ahead.

    Major Points Discussed:

    • The U.S. national debt has exceeded $34 trillion, raising concerns among politicians about the growing burden on the federal budget.
    • Experts like Maya MacGuineas and Michael Peterson emphasize the need for immediate measures, urging policymakers to consider options such as tax hikes, spending cuts, or the establishment of a fiscal commission to address the escalating debt crisis.
    • The debt has surged from $33 trillion in September 2023 to over $34 trillion, prompting worries about the nation’s unsustainable financial path.
    • Credit-rating agencies Moody’s, S&P Global, and Fitch express concerns about the nation’s credit outlook. Fitch Ratings downgraded the government’s credit rating from AAA to AA+ in August 2023, citing high national debt, deficits, and an erosion of governance.
    • The cost of servicing the debt is taking up an increasing share of the federal budget, with interest costs reaching a record-high of $879 billion in fiscal year 2023. A bipartisan fiscal commission is proposed as a comprehensive solution to address the financial challenges facing the nation.

    Comments – Threads – Links

    • Total U.S. federal debt passes $34T. The debt obligation per person is +$101K. The debt per taxpayer is +$264K. The Administration is attempting to blame increase in the debt on the 2017 tax cuts, ignores $6T spent over last 3 years on stimulus, pandemic relief & infrastructure –Day Trading Academy
    • It is all going to come crashing down. It is impossible to repay that money. Zero chance of it happening with politicians in charge of the money. Our dollar is going to become absolutely worthless very soon- Ryan
    • The U.S. federal government’s total public debt has reached $34 trillion for the first time, the U.S. Treasury Department reported, as members of Congress gear up for another series of federal funding battles in the coming weeks. Read Newsmax: US Public Debt Tops $34T…inept – Batman2022
    • U.S. debt hits over $34T for the first time in history! Biden is bankrupting the U.S.! – World’s Best Grandma
    • National debt literally measures how many dollars we have * US gov had printed and spent $118 Trillion & taxed back 84T: the prv sector kept 34T: We OWN it, not owe it * the Gov issues the USD: can’t default * debt increased 600x since 1940 – fiat money
    • The U.S. has added another trillion dollars of debt in the final quarter of the year. We’re now at $34T of debt. Cancel all the unnecessary programs. – Strick

    Biden and crew are doing everything possible to take the nation down. Nations and banks around the world are buying Gold fast and at record amounts.  Do yourself or your family a favor, check out GOLD now – Whatfinger endorses Goldco, which has helped people all over America to protect their 401Ks and retirement – get the free details –  CLICK HERE or below…

    News Junkies Delight…. One visit and you are hooked….  Come over to Whatfinger’s main page. All news and more news than any other site on the net. 

    Keep Reading

    Add A Comment

    Leave A Reply