{"id":282884,"date":"2024-03-04T07:45:21","date_gmt":"2024-03-04T07:45:21","guid":{"rendered":"https:\/\/www.thetruthseeker.co.uk\/?p=282884"},"modified":"2024-03-05T08:27:29","modified_gmt":"2024-03-05T08:27:29","slug":"the-u-s-national-debt-is-rising-by-1-trillion-about-every-100-days","status":"publish","type":"post","link":"https:\/\/www.thetruthseeker.co.uk\/?p=282884","title":{"rendered":"The U.S. national debt is rising by $1 trillion about every 100 days"},"content":{"rendered":"<h1 style=\"text-align: center;\"><strong>Michelle Fox \u2013 CNBC March 1, 2024<\/strong><\/h1>\n<ul>\n<li>The nation\u2019s debt now stands at nearly $34.4 trillion, as of Wednesday.<\/li>\n<li>Since June, the last two $1 trillion jumps occurred in about 100 days.<\/li>\n<\/ul>\n<p>The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.<\/p>\n<p>The nation\u2019s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to <a href=\"https:\/\/fiscaldata.treasury.gov\/datasets\/debt-to-the-penny\/debt-to-the-penny\">data<\/a> from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months.<\/p>\n<p>U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 billion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.<\/p>\n<p>\u201cLittle wonder \u2018debt debasement\u2019 trades closing in on all-time highs, i.e. gold $2077\/oz, bitcoin $67734,\u201d he wrote in a note Thursday.<\/p>\n<p>Spot gold is currently hovering around $2,084 an ounce, while <a href=\"https:\/\/www.cnbc.com\/quotes\/BTC.CM=\/\">bitcoin<\/a> was recently around $61,443. The cryptocurrency in February closed out its best month since 2020, briefly trading above <a href=\"https:\/\/www.cnbc.com\/2024\/02\/29\/crypto-market-today.html\">$64,000 on Wednesday<\/a> before pulling back. Inflows into crypto funds are on course for a \u201cblowout year,\u201d with an annualized inflow of $44.7 billion so far this year, Hartnett noted.<\/p>\n<p>Moody\u2019s Investors Service <a href=\"https:\/\/www.cnbc.com\/2023\/11\/10\/moodys-cuts-usa-outlook-to-negative-citing-higher-interest-rates-and-deficits.html\">lowered its ratings outlook<\/a> on the U.S. government to negative from stable in November due to the rising risks of the country\u2019s fiscal strength.<\/p>\n<p>\u201cIn the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues,\u201d the agency said. \u201cMoody\u2019s expects that the US\u2019 fiscal deficits will remain very large, significantly weakening debt affordability.\u201d<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/03\/01\/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. national debt rising to unsustainable levels. At some point, probably soon, something is going to give  <\/p>\n","protected":false},"author":39262,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[66],"tags":[],"class_list":["post-282884","post","type-post","status-publish","format-standard","hentry","category-Economics"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/282884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/users\/39262"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=282884"}],"version-history":[{"count":3,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/282884\/revisions"}],"predecessor-version":[{"id":282919,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/282884\/revisions\/282919"}],"wp:attachment":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=282884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=282884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=282884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}