$20,180,000,000,000 Surge in US National Debt Incoming, Says CBO, As Billionaire Paul Tudor Jones Warns ‘Debt … – The Daily Hodl

The Congressional Budget Office (CBO) is projecting that the US national debt will shatter the $50 trillion mark in the next decade.

In a new report, the agency that provides financial and economic data to Congress says it expects the country’s national debt to reach $54.4 trillion by the end of 2034.

According to the US Treasury Department, the national debt currently stands at $34.22 trillion, meaning the CBO projects an increase of $20.180 trillion in just 10 years.

The CBO’s latest forecast comes as hedge fund billionaire Paul Tudor Jones warns the US is approaching a “debt bomb” explosion.

In a CNBC interview, the legendary investor reportedly says that while the US economy appears to be working like a well-oiled machine, it is actually running “on steroids,” per Fortune.

According to Jones, the US government is boosting consumption and economic activity through excessive borrowing and spending.

“We’ve got a 6% to 7% budget deficit. We’re fast-pouring consumption like crazy.”

Jones warns that it’s only a matter of time before the economy collapses under the weight of the government’s massive debt problem.

“The only question is … when does that manifest itself in markets. It could be this year, it could be next year.

Productivity may mask and it might be three or four years from now. But clearly, clearly we’re on an unsustainable path.”

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Javier Ortiz

Navegando entre las corrientes de la información con pasión y destreza, soy Javier Ortiz, un Experto en Artículos Web que teje palabras con la intensidad de un golazo en el último minuto. Mi paso por la Universidad Antonio de Nebrija templó mi pluma con el calor del conocimiento. Como un cronista de la vida moderna, mis escritos surcan desde los campos de fútbol hasta los extremos del deporte, desde los engranajes de la economía hasta los laberintos de la política, y desde los misterios de la religión hasta las alturas de la espiritualidad. Cada palabra es un punto en la red, tejido con la fibra de la autenticidad. Únete a mí en este viaje donde las letras se convierten en senderos de emoción, donde el fútbol comparte espacio con la adrenalina, donde el motor económico se conecta con el engranaje político y donde la esencia humana encuentra su refugio en el vasto mar de la espiritualidad.

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