Why we need to cut spending as much as possible

[Diogenes]

It was only on July 28, 2024 that we reached $35 trillion in national debt.

Now, about 100 days later, we are at $36 trillion in debt.

Interest on the national debt is now is on pace to reach $1.4 trillion for the 2025 fiscal year (Oct 1 2024 - Sept 30 2025).

About 25% of US govt revenue will go to pay interest on the debt.

If we don’t tackle the national debt, eventually more and more tax revenue will go to paying interest and there will be precious little left for anything else.

By law, mandatory spending has to continue regardless - which will mean more borrowing, and more debt, and more interest owed.

https://www.usdebtclock.org/

 

[Diogenes]

It took over 200 years for the U.S. debt to reach $12 trillion.

$12 trillion is how much we added in 4 years between 2020 and 2024.

 

[Diogenes]

As a reminder, excess government spending causes inflation.