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[jumanji0881]

The US Government Is On Track To Top Last Year's Record-Breaking Deficits : https://www.zerohedge.com/political/us-government-track-top-last-years-record-breaking-deficits

My Comment : The ever increasing debt is the primary reason I am heavily invested in the PM mining shares. I'm expecting the national debt to be $40Trillion by 2025.

Excerpts:
With five months left to go in the fiscal year, and with the deficit already approaching 2 trillion, it won’t take more than Biden’s $2 trillion infrastructure bill to ensure that 2021’s deficit soars to new record-breaking levels. That is, the US on course to beat last year’s full-year deficit by the time this fiscal year comes to an end.

In the second graph, we see that the full-year deficit for the 2020 fiscal year was a record-breaking 3.1 trillion.

The total national debt is now approaching $30 trillion, and was $27.7 trillion at the end of the fourth quarter of 2020. Taken as a percentage of GDP, the debt is now exceeding even the extraordinary levels reached during the Second World War, making the current fiscal crisis the largest one, proportionally, to have ever occurred during peace time. In terms of annual deficits, only three years in American history exceeded 2020’s deficit as a percentage of GDP: 1943, 1944, and 1945

There's no easy solution, and this is why those old-fashioned, fuddy-duddy economists have been warning against runaway spending for years. Eventually the taxpayers have to pay for it, either through a ruined currency, or by slashing government spending in other areas. Or through tax increases. But for now, politicians will keep kicking that can down the road, and hope they can blame someone else when the reality becomes undeniable.