9 October 2023
In just three weeks, the US government’s debt surged by over half a trillion dollars, raising concerns among leaders and financial experts. Senator Cynthia Lummis warns of the severe implications for future generations if current spending continues. Additionally, billionaire Ray Dalio predicts an impending US fiscal crisis. The Federal Reserve Bank of St. Louis states the government is now paying $909.5 billion in quarterly interest on its debt.