The US national debt is over $38.5 trillion and growing fast. Here's what's happening:
- The debt increases by $8 billion every day.
- Interest payments on the debt are over $1 trillion per year, more than the entire national defense budget.
- The debt is growing faster than the economy, which can lead to financial problems.
The Federal Reserve Chair, Jerome Powell, warns that the current debt level is "unsustainable" and could cause financial instability. The government spends a lot on interest payments, leaving less money for other important things.
This situation is concerning and might affect the country's financial future.
BTCUSDT
Perp
82,129.7
+0.58%
XRPUSDT
Perp
1.3376
+1.02%
SOLUSDT
Perp
105.69
+1.74%
