Everything Comes To An End

* Fitch downgraded its credit rating on U.S. long-term bonds from AAA to AA+.

* According to the WSJ, that won’t break the DC swamp’s tax-and-spend ways.

* Wrong — wait until we start paying higher interest rates on our $31T debt.

* The gubment will print $ to pay those bills; which causes massive inflation; which causes even higher interest rates.

* We’ll fall into a death spiral.

* What can’t continue, won’t; and this can’t continue.

* Spending will (catastrophically) come to an end.

Editor’s Note

* Best case scenario — the debt bomb will grow to $47T by 2033.

* The interest expense on U.S. national debt is approaching $1T (and will surpass it in the next two quarters).

* Even if we ran a balanced budget, we would still add that much to our debt every year just to pay the interest on it.

* Historically, gubments have hyperinflated their way out of this problem.

The full episode is linked below.

The Dan Bongino Show | 3 August 2023

https://rumble.com/v34ct7d-the-ny-times-gives-up-all-the-goodies-ep.-2059-08032023.html