2024-04-24 19:20:00 ET
Summary
- Bank of America projects that the United States will have a debt of $34 trillion by year-end.
- According to our Treasury Dept., we spent $429 billion on interest payments alone in the last year.
- The U.S. Bureau of Economic Analysis (BEA) states that the income, gross domestic product (GDP), of the United States was 27.96 trillion at the end of 2023.
“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
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