The U.S. national debt is rising by $1 trillion roughly every 100 days right now, which now stands at nearly $35.8 trillion as of 10/22/2024. To make matters worse, the Treasury has also drawn down its cash balance by $72 billion putting it over $275 billion in the red. The report spread like wildfire, especially throughout the financial and entrepreneurial communities. Tesla CEO Elon Musk was prominent among those, saying, “If there is not radical reduction of government expenditures, then, just like an individual who has taken on too much debt, America will become de facto bankrupt.”
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