Merely paying interest on our titanic federal debt will eventually consume the nation’s budget whole: “It will spend more on interest than it spends on Medicaid in 2020; more in 2023 than it spends on national defense; and more in 2025 than it spends on all nondefense discretionary programs combined.”
It’s the return of everybody’s favorite fake ceiling! And if it is indeed raised to $22T, as the Bipartisan Policy Center forecasts, the administration will be crashing headfirst, yet again, into the magically movable ceiling in less than a year.
Join David Morgan as he examines recent headlines regarding the ongoing erosion of US dollar dominance around the world, and hear why the CEO of the world’s largest hedge fund sees the USD losing its preeminent global trade role sooner than later.
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