Source: Mac Slavo
The day of reckoning is coming for the United States’ national debt and it will likely come in the form of a dollar collapse. This is a problem for every single person on the globe and it’s only getting worse.
The nonpartisan Congressional Budget Office has published its latest forecast and assessment of the nation’s fiscal health as we are bombarded with Democrat rhetoric of impossible spending measures and unfulfillable promises if only they are voted for.
Large budget deficits over the next 30 years are projected to drive federal debt held by the public to unprecedented levels—from 78 percent of gross domestic product (GDP) in 2019 to 144 percent by 2049. That projection incorporates CBO’s central estimates of various factors, such as productivity growth and interest rates on the federal debt, the latest forecast stated. This system built on debt is unsustainable. No one knows exactly when it will collapse under its own weight, only that it will.
The subjective math is just as terrifying as the picture painted by CBO. The official data is bleak, and it’s bleaker still against the backdrop of bipartisan inaction in the face of the growing problem. As forms of tax relief are cast aside by the political overlords in lieu of promises of more spending and higher taxes, the burden is ever increasing on the average American.