The United States national debt is reportedly now increasing by $1 trillion every 100 days, according to reports.
The national debt reached $34 trillion last month, up from $33 trillion in September 2023 and $32 trillion in June 2023.
Report from Newsmax:
Bank of America strategist Michael Hartnett believes the 100-day pattern will remain intact, at least until the U.S. national debt reaches $35 trillion.
This is causing “debt debasement” hedges to reach all-time highs, with gold at $2,077 an ounce and bitcoin at $67,734, Hartnett noted Thursday. Inflows to cryptocurrency funds are $44.7 billion so far in 2024, on course for a “blowout” year, he said.
Moody’s lowered its ratings outlook on the U.S. government from stable to negative in November, noting, “In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody’s expects that the U.S.’ fiscal deficits will remain very large, significantly weakening debt affordability.”
The national debt is the amount of money the federal government borrows to cover operating expenses.
