The federal corporation calling itself "UNITED STATES" is now in a financial death spiral as its debt increases by One TRILLION Dollars about every 100 days.
The federal corporation's debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months.
($32tn to $33tn took 92 days, $33tn to $34tn 106 days, $34tn to $35tn will take 95 days)" - BofA
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 trillion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
Of note is that Interest on the existing debt is now costing one TRILLION dollars a year.
Federal Reserve Chairman Jerome Powell recently described the debt as "unsustainable."
