Bank of America: U.S. Debt Will Top $50 Trillion

Bank of America is warning the American slave class to expect the national debt to top $50 trillion. Citing data from the Congressional Budget Office, the U.S. national debt is very likely to surge by $20 trillion over the next decade.

That is if the entire global debt-based fiat currency system even lasts that long. The ruling classes of the globe have big plans to ensure they control every aspect of every human being’s existence on this planet.

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The US exceeded its debt ceiling, which was legally set at $31.4 trillion, in January 2023. After months of warnings of an imminent and economically disastrous default from the US Treasury, President Joe Biden in June signed a bipartisan debt bill that allowed the limit to be lifted until January 2025. This effectively allowed the government to keep borrowing without limits through next year. Debt spiked to $32 trillion less than two weeks after the bill was approved and has been piling up ever since. –RT

According to the forecast, the current outstanding public debt amounts to roughly $33.6 trillion, but at the pace it is growing and due to “fiscal excess in the 2020s,” it is likely to grow by $5.2 billion daily for the next 10 years, which would put it at around $54 trillion by 2033, according to a report by RT.

“US public debt is… more than the combined GDPs of China, Japan, Germany, and India,” Bank of America investment strategist Michael Hartnett noted in the forecast. He warned, however, that Washington was unlikely to stop taking loans even if the federal deficit is contained because borrowing is seen as a means to fuel economic growth and help drive the circulation of money. “Likely central banks may simply bail out governments in coming years via quantitative easing and the introduction of yield curve control,” Hartnett added.

That means we should expect the cost of living to rise as inflation continues to beat down the slave class and the rulers devalue the already worthles fiat currency even further.

Source: SHTFplan

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