Q. What do Pres. Xiden and Edward Smith have in common?
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US Debt Rises Above $33 Trillion For The First Time, Soars By $1 Trillion In 3 Months
by Tyler Durden
Monday, Sep 18, 2023 - 01:30 PM
On Sept 6, when looking at the latest daily debt numbers, we predicted that total US debt would hit the very special ( at least for Masons) number of 33 in two weeks.
We were off by 2 days, with the US treasury naturally obliging by hitting the number early rather than late.
Today, the Treasury announcedthat for the first time, total US debt has surpassed $33 trillion, rising by $56 billion in one day,and by a mindblowing $1 trillion in just the past 3 months!
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The historic breakout takes place just weeks before the interest on total Federal debt is set to hit $1 trillion, surpassing how much the US spends on defense - and soon after - every other outlay category.
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Finally, for those who expect a happy ending, we have one word: "don't."
Here is the CBO's latest debt forecast. It shows that US debt is now set to hit $50 trillion by 2030 (probably much sooner though), and then proceed exponentially higher until the US currency finally collapses.
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