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IPFS News Link • Government Debt & Financing

Global Debt Circus: Let's Get Clear About The Danger America is Facing

• Zero Hedge

Here's some sobering numbers from the US:

• Interest payments on the debt increased by $177 billion or 33%.

• Medicare spending increased by $126 billion or 18%.

• Medicaid spending increased by $24 billion or 4%.

Pension Benefit Guaranty Corporation spending increased by $38 billion.

• FDIC spending amounted to $92 billion as the agency dealt with bank failures—an increase of $101 billion.

What This Means:

Let's be clear about the danger America is facing. The US has an unprecedented, almost incomprehensible, $33.5 trillion national debt that has eclipsed the size of the economy.

Every person in America today owes more than $100,000. They are forced to borrow over $75,000 every second just to cover expenses. The budget deficit of $1.7 trillion shows how this burden grows yearly.

Families will be decimated by record-high inflation and access to capital.

Today, the average family of four is paying $14,700 yearly or $1,224 more per month to purchase the same goods and services compared to the day sleepy Joe took office.