The U.S. national debt is rising at an increasing rate – it just hit $35 trillion for the first time ever – meaning the amount of time it takes for the next trillion to be tacked onto the tab is getting shorter and shorter. And at some point, the bubble has to pop.
The situation is so out of control that even The New York Times is warning its readers that the problem is spiraling "more quickly than many economists had predicted."
The House Budget Committee recently released a report highlighting just how quickly the national debt has grown over the past year. Here is what they found:
• $196 billion in new debt every month
• $6.4 billion in new debt every day
• $268 million in new debt every hour
• $4.5 million in new debt every minute
• $74,401 in new debt every second
One news report described the situation as "committing national suicide." Future generations are being sold into ever-worsening slavery so the current ones can keep on kicking the can of financial ruin down the road. How long can this go on before the system simply cannot sustain any more debt?
(Related: Did you know that for the first time since the 2008 financial crisis, investors holding top-rated debt backed by commercial real estate [CRE] are experiencing losses?)
Homelessness in America increasing about 10% annually since end of COVID
To put things into perspective, the national debt when Barack Obama first entered the White House in early 2009 was $10 trillion. This was right after the collapse of the housing and stock markets. Since that time, the national debt has nearly tripled with more on the way.
Today's children and grandchildren have no future to look forward to as long as the situation remains as is. Inflation will continue to rise while quality of life declines. Most of them will be forced to work harder and longer just to barely scrape by with the vast majority never standing a chance at owning a home – and don't even think about retirement.
"Unfortunately, we have reached a point where economic conditions are steadily getting worse even though our government continues to pile up mountains of new debt," warns The Most Important News.
Ever since the end of the Wuhan coronavirus (COVID-19) "pandemic," homelessness across the nation has soared. The Department of Housing and Urban Development (HUD) says the rate of homelessness is increasing by about 10 percent annually.
"By the end of 2023, the U.S. hit its highest reported level in history since they began tracking it in 2007," HUD admitted in a report.
New Hampshire and New Mexico saw the largest increases in homelessness over the past several years at 52 percent and 50 percent respectively. In third place is New York, which has seen a 39 percent increase in homelessness.
Poverty and hunger are also on the rise across the U.S. In 2023, more than 12 percent of the country was living below the poverty line with 13 percent indicating that they lacked the funding needed to eat.
"More people are becoming homeless for the first time," said Ann Oliva, CEO of the National Alliance to End Homelessness. "They have no place to go so they end up on the streets."
There are now six major U.S. cities where one would need to make $200,000 a year just to live a normal middle-class lifestyle. These cities include Boston, Denver, San Diego, San Francisco, Seattle and Washington, D.C.
"Of course our long-term problems are rapidly becoming our short-term problems," The Most Important News warns. "The entire system is convulsing with tremors, and our bubble economy is slowly but surely heading toward a date with oblivion."
How soon do you think it will be before U.S. markets collapse under the weight of insurmountable crime? Find out more at Collapse.news.
Sources for this article include:
Please contact us for more information.