“US national debt tops $34T for first time in history”
January 4, 2024
“The U.S. national debt topped $34 trillion for the first time ever, crossing a critical milestone at a time when government spending is already under scrutiny… Even more worrisome is that the spike in interest rates over the past year and a half has made the cost of servicing the national debt more expensive…
Payments are expected to triple from nearly $475 billion in fiscal year 2022 to a stunning $1.4 trillion in 2032. By 2053, the interest payments are projected to surge to $5.4 trillion…”
https://www.foxbusiness.com/politics/us-national-debt-tops-34t-first-time-history
If you are 40 or younger do not expect to see any type of pension or social security. 401’s are a waste of time as well in my opinion. The debt will collapse before you retire and wipe everyone out. Do not depend on these things for your survival. If you do you will wish you hadn’t.