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The Democrats and Republicans are running America into the ground.
'Mind-blowing' US debt binge amid high interest rates is threatening financial stability, Larry McDonald says
US government debt almost doubled in the past decade to a record level of almost $33 trillion, or 122% of the nation's GDP.
And that's got experts concerned.
Fiscal spending has skyrocketed since the pandemic and shows little sign of slowing — and this has created a "mind-blowing hole" in the nation's finances, according to markets guru Larry McDonald. In a blog post on Wednesday, the author and former strategist cited data from the Kobeissi Letter to illustrate his worries.
Federal spending during the 2020-2023 period has amounted to a staggering $28 trillion, he pointed out in an X post on the same day.
Democracy in America. Democracy is allowed as long as it props up the two-party dictatorship.
In One Year, Child Poverty in the United States More Than Doubled
The United States’ poverty rate experienced its largest one-year jump on record last year, with the rate among children more than doubling from 2021’s historic low of 5.2 percent to 12.4 percent according to new numbers from the US Census Bureau out today. They’re the latest data to reflect the devastating effects following the expiration of nearly all pandemic-era relief programs. That includes the end of Medicaid rules that protected recipients from getting kicked off because of administrative errors, an end to rental assistance policies, and the restart of student loan payments.
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