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The bulging US debt situation is worsening as the nation battles overflowing debt numbers on all frontiers. The United States is currently busy handling a bleeding debt crisis on its hands that, if left uncontrolled, has the potential to paralyze the nation from all sides. Also Read: Ripple: After Reaching $1, XRP Predicted to Hit $2: Here’s How The United States’ Debt Situation Is Overflowing: What’s Happening? Image Source: Watcher Guru A recent post by the notable Kobeissi Letter brought forth a compelling insight to ponder. The platform uploaded the recent list of segmental debt metrics that the US is currently bursting with. For instance, the platform outlined that the US is currently battling internal debt issues associated with diverse sectors, including households and mortgages. Per KL, the US currently has a record $179 trillion in household debt. The aforementioned stats are followed by a record $12.6 trillion in mortgages, as well as $1.6 trillion in auto loans. S...

The national debt – which measures what the United States owes its creditors — hit $34 trillion as of Friday afternoon, according to new data published by the Treasury Department. It is the first time ever that US debt has surpassed that number. BREAKING: 🇺🇸 National debt surpasses $34 trillion for the first time ever. — Watcher.Guru (@WatcherGuru) January 2, 2024 The historic debt level comes as Congress races to finalize critical funding bills in order to prevent a government shutdown. The national debt is expected to nearly double in size over the next three decades, according to the latest findings from the Congressional Budget Office. Furthermore, at the end of 2022, the national debt grew to about 97% of gross domestic product. Under current law, that figure is expected to skyrocket to 181% at the end of 2053. Servicing the national debt crisis isn’t helped by the inflation battle that the US also continues...