Most Americans are unaware that the federal debt just spiked by nearly $500 billion over a three week period. Elon Musk correctly called this a crisis.
Porter Stansberry has commented on what Americans might be facing because of the spiraling national debt:
Virtually every American is about to lose 50-75% of their wealth—and here’s why: The government is adding $1 trillion in debt every 100 days. Their spending spree is creating the illusion of growth, but it’s only fueling inflation. When this debt bubble bursts, your purchasing…
— Porter Stansberry (@porterstansb) October 22, 2024
Regardless of who wins the election, we will be facing a very bumpy ride. Precisely when? I don’t know. But the politicians will not act until we face an extraordinary crisis; and at that point, it will be too late. And it is quite possible that, even then, they will not handle it correctly because reacting under crisis conditions usually produces poor decisions. Remember Covid-19, for instance.
I already feel the pinch on my pocketbook May the almighty save the US from Kamala
I agree, Fred. But Trump and the Republicans would have to take a much different approach than they have in the recent past if they were to address this problem successfully.
That Federal spending surge may explain the mirage of GDP growth the bureaucrats report. A massive portion of new jobs in the most recent month were government hires.
And they have otherwise gone mostly to illegal aliens, Healey.