Late last year, we held an optimistic view regarding U.S. debt levels. However, since then, the fiscal standing of the United States has significantly worsened. Debt-to-GDP ratios have risen, debt servicing costs have increased, and the Congressional Budget Office's projected fiscal balances have shifted further into deficits. The U.S. now bears more debt, with higher costs and an accelerated accumulation rate. As of October 26th, 2023, the U.S. federal debt, reported by the Treasury Department, has surged to $33.67 trillion, marking a $2.27 trillion increase since the temporary suspension of the $31.4 trillion debt ceiling on June 3rd, 2023. This ceiling is set to expire at the beginning of 2025, with projections suggesting a surpassing of $50 trillion in debt by 2030.

The substantial, long-term fiscal deficits have been a primary factor behind the exponential growth of federal debt. Two rounds of fiscal stimulus, totaling about $1.5 trillion, were implemented during the 2018 financial crisis. Subsequently, amid the COVID-19 pandemic, six rounds of fiscal stimulus policies amounting to nearly $5.7 trillion were introduced.
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Gold & Market Crash 2024 - Gloomy Forecast by Jim Rogers
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