11 December 2023
The U.S. faces dire financial challenges, including massive federal budget deficits and significant payments to the Treasury due to Federal Reserve balance sheet losses. The situation is exacerbated by $212 trillion in unfunded promises, with debt reaching 200% of GDP. This unsustainable fiscal path, influenced by Modern Monetary Theory’s approach of unchecked money printing, raises serious concerns about the future affordability of these vast obligations.