US Credit Default Swaps Surpass Spain as US Debt Approaches $33 Trillion

The reckless spending under Biden and in Congress has plunged the US into a debt crisis. The situation has gotten so dire that US credit default swaps (CDS) are now being priced worse than Spain’s CDS. Thanks to the spending binge and economic decline, US Federal debt has skyrocketed to nearly $33 TRILLION. Even more alarming is the staggering $193 TRILLION in unfunded Federal liabilities, a colossal sum nearly six times the current Federal debt burden. It’s a fiscal disaster in the making.