The US national debt is rapidly increasing, with a $524.7 billion rise reported within 21 days according to the government's FiscalData platform. This alarming development has prompted concern from elected officials, with Senator Cynthia Lummis warning of a 'debt death spiral' that could be passed to future generations. Her comments echo those of billionaire investor Ray Dalio, who anticipates a looming fiscal crisis. Apart from its economic implications, the soaring debt burden is also eating into its budget, with the Federal Reserve Bank of St. Louis calculating that the US government spends an average of $909.5 billion per quarter on interest payment. There is a need for urgent action to avert such a crisis, and governments need to reign in on their spending habits, to ensure a safe and prosperous future.



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