A new analysis of the federal government’s spending habits has revealed that the United States is set to hit a potentially CATASTROPHIC milestone in the next 5 years.
The Committee for a Responsible Budget estimates that by the year 2028, national debt will soar past previous records to establish an all-time new national debt.
Industry experts are warning that this is a sign America’s economic outlook is “chilling.”
While the government is currently in talks to raise the debt ceiling to avoid a default, this will continue to push us to a dangerous level where payments on the debt interest become the THIRD largest government spending program behind only Social Security and Medicare.
Our government is spending America into oblivion!
With the concerning milestone around the corner and the Biden administration fully aware of how bad this could be for the country, you would think they are even considering cutting back on spending, but instead the opposite is true!
The federal government continues to loosely spend and spend ignoring the potential consequences. We send hundreds of billions of dollars to other countries to fix their problems while worsening ours here at home.
Committee for a Responsible Federal Budget President Maya MacGuineas says she is “hopeful” that the government will “come up with some kind of a plan” to prevent the inevitable collapse of America being brought on by uncontrollable amounts of debt.
But it’s fair to say our government seems more contempt with kicking the can down the road, continuing to increase the spending while hoping they’ll never have to deal with it!
MacGuineas has serious concerns about what else will go wrong as the debt continues to rise. Watch the video here to see them!