Day: August 18, 2024

How serious is the U.S. federal debt situation?

https://preview.redd.it/ew65563wvgjd1.png?width=609&format=png&auto=webp&s=e3d11b11d97afddd2ab2b2630e6afd00d9fa9f8e Net interest expenses on U.S. federal debt as a percentage of GDP are projected to nearly triple the share of defense spending by 2054. By 2054, net interest expenses are expected to reach 6.3% of GDP, while defense spending will account for 2.3% of GDP. For comparison, since 1973, net interest expenses have averaged only 2.1% of GDP, which is just one-third of the projected 2054 amount. Meanwhile, nominal interest payments are forecasted to reach a MASSIVE $1.7 trillion by 2034, which is 2.6 times higher than the $658 billion recorded in 2024. Calling it a debt crisis is an understatement. submitted by /u/XGramatik [link] [comments]

Trump Crypto Holdings

Trump’s assets and income filings listed $1 million to $5 million in a ethereum cryptocurrency wallet. Trump’s wallet holds $3.5 million in assets, including 492 Ethereum ($1.28 million) and another 377 Wrapped Ethereum ($977,000). He also holds six-figure positions in obscure memecoins including TROG ($372,000) and GUA ($345,000). The wallet holds around $136,290 in the stablecoin USDC. https://preview.redd.it/6sajf3cb7hjd1.png?width=1141&format=png&auto=webp&s=fb2629a76a4ca9aeace93f92deb1f10c75f2909d submitted by /u/Lor1al [link] [comments]