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US National Debt Will Double by 2051 says New Report

US National Debt Will Double by 2051 says New Report

The US national debt hits a new all-time high every second. Currently, over 28 trillion. We have crossed the point of no return. We are so far in debt; it’s mathematically impossible ever to pay it back.

The inevitable endgame of all this is the default.

US debt is projected to balloon to more than double GDP by 2051. Also what happens to our current debt and interest payments if the rates ever go above their current 1%. Think those are gonna get easier to pay? We literally created a never-ending loop of debt.

Too much printing of fiat currency has two possibilities, a deflationary one- as was Economic Crisis 2008, or hyper-inflationary – see the Weimar Republic, between 1921 and 1923, primarily in 1923. Of course, the third one would be to start a war, which the USA is well experienced with; hell, we have started enough of them.

According to a report from the congressional budget office, the US national debt will reach 202 percent of GDP. It will exceed the national GDP by the end of this year. And by 2051, it will almost double and reach 202 percent of GDP.

This forecast is contained in a new report published on Thursday by the congressional budget office. According to its experts, the US national debt, according to available calculations, should by the end of 2021 reach the level of 102 percent of GDP. Debt will reach 107 of GDP, exceeding the historical maximum in 2031. And will almost double to 202 percent of GDP by 2051.

The document says the growing debt burden may increase the risk of a fiscal crisis and rising inflation, as well as undermine confidence in the US dollar, which will make it more expensive to finance public and private activities in international markets.

The experts also note the increase in the US national debt is primarily due to the emergency spending of the US government to overcome the economic crisis that was caused by the pandemic.

The office’s current report also clarifies that the US federal budget deficit is likely to reach 10.3 percent of GDP in 2021. This would be one of the largest deficits since 1945, not counting the record deficit of 2020, which was 14.9 percent.

For the full transcript go to https://financearmageddon.blogspot.com