from Birch Gold Group:
We’ve published more than a few articles about how the national debt makes our lives more difficult and diminishes the dollar’s purchasing power.
But as we’ll cover in this article, the insane level of debt that the United States is carrying right now ($34.8 trillion) also poses a dangerous national security risk.
In fact, Congress approved a resolution back in March declaring exactly that, according to a report by Reason Magazine:
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The Senate unanimously approved a resolution on Wednesday calling the debt “a threat to the national security of the United States” and calling expected future budget deficits “unsustainable, irresponsible, and dangerous.”
And the approval of that resolution was timely. Later on Wednesday, the Congressional Budget Office (CBO) published its latest long-term budget projections. The report shows that annual budget deficits are on pace to grow from an expected $1.6 trillion this year to $2.6 trillion in 2034, $4.4 trillion in 2044, and $7.3 trillion in 2054.
Then the same piece also gave a 30,000-foot overview of the danger that carrying such extreme amounts of national debt could pose:
The CBO does not account for the possibility of recessions, natural disasters, wars, or other unpredictable events that could cause the federal government to borrow more heavily than current law expects. The past 30 years have included 9/11, the war on terror, the Great Recession, and the COVID-19 pandemic, so it seems pretty likely that the next three decades will include at least a few emergencies that drive deficits higher.
Namely, that any emergency would necessitate even more spending, which according to the CBO, would pose an even higher national security risk now.
But it gets worse…
It appears like the United States has also been in a “net borrowing” situation for most of the last 22 years. This accounts for all government receipts, and subtracts all expenditures (including interest payments).
