As a matter of fact, this was predicted in the Kerrey/Danforth report. In college Macroeconomics class, we all had stomach acid after hearing these predictions. And it's worse than you think.

If nothing is done about deficit spending (and the only thing that has been done is for DemoKKKrats to INCREASE IT),
in the year 2030.

1. The ONLY item on the budget will be interest on Social Security Debt.

2. NO MILITARY, NO WELFARE, nothing else.

3. Income tax rates will be NINETY PERCENT ACROSS THE BOARD just to pay that interest.

Thanks, KKKrats. Thanks for giving our grandchildren the bill for your buying votes from idiots.

While Mainstream Pundits and Talking Heads spread gobblygoop about Job numbers and the Big Beautiful Boondoggle in Congress, by and large they completelyignore the fact the entire US Economy is built onnothing more than Debt. The US Economy is drowning in;
Consumer Debt...
Government Debt...
Corporate Debt...
Household Debt...


• Government Debt...
The Federal Deficit will to hit $1 Trillion, up from $950 Billion from the Fiscal Year ending last September(speaking charitably).

• Public Debt...
Amounting to $175,000+ per US Household. The US Treasury borrowed $488+ Billion in the first quarter. According to the CBO, payments on the Debt cesspool will roughly triple to $915 Billion in 10 years. The current trajectory suggeststhe Cost of the Annual Interest payments on the US Debtwill equal the Annual Costs of the Social Security Ponzi Scheme, which Costs will exceed Income this year earlier than expected. The Allen Stanford-Style Entitlement System will deplete entirely way before 2034.

• Consumer/Household Debt...
Total Consumer Debt rose by $176 Billion, a 4.8% Year-on-Year increase. Total Debt a record $3.87 Trillion. Outstanding Credit Card balances long since crossed over the $1.5 Trillion threshold. Auto Loans and Leases for Vehicles rose to a record of $1.13+ Trillion Dollars increasing by over $40 Billion Dollars. Student Loans jumped by 5.8%, increasing $84 Billion, to $1.53 Trillion. The US Education Department forecasted a $36+ Billion shortfall in Government Student Loan Programs.

• Corporate Debt...
Corporate Debt is far over 45% of GDP. According to Moody’s, the majority of US Companies have a “speculative” Credit rating, meaning they're considered high risk. The last time the Corporate Debt to GDP ratio was this high was before the 2008 Financial Crisis, and right before the 2000 Technological Bubble popped. There's $1.27 Trillion Dollars in Junk Bonds in the Marketplace. Research is,14.6% of S&P 1500 Companies are zombies, meaning their earnings before Interest and Taxes fail to cover their Interest expense. Corporate Credit downgrades have outpaced Credit upgrades since the first quarter of last year.

• Global Debt...
According to Gluskin Sheff, at the peak of the last Credit Bubble, US Debt across Household, Business, and Government totaled $27 Trillion, or 225% of GDP. Now standstills at $50 Trillion, or 250% of GDP. The Global Economy has added $25 Trillion of Debt to reach 318% of Global GDP. Global leveraged lending reached a new high of $1.6 Trillion in 2017, surpassing the previous record in 2007. Most leveraged Loans are “covenant-lite,” with fewer restrictions on Collateral, payment terms and level of Income.

There's Debt, Deficits, and Dependency as far as the eye can see. The article in Seeking Alphaexplained that exploding Debt will blow the US Bubble Economy into a Crisis. The Political Indentured Servants on Capitol Hill aren't interested in the Debt. Likewise, gullible and appallingly ignorant American Voters aren't willing to hold their State and Federal Representatives Fiscally accountable. Without any Adult Supervision, Debt is bringing the Crisis they were warned about, just as Sub-prime Mortgages did in 2008 when that Crisis forced Lenders and Borrowers to stop. The difference is that Government Debt is at the center of the current Credit Bubble.

It also begs another question;
• What in the name of good common sense would lead the American Public, Taxpayers, and Consumers to be unable to comprehend;

Debt isn't Wealth...
Paper isn't Money...
Free Stuff isn't Justice...
Warmongering isn't Peace...
Force isn't Morality...
Aggression isn't Moral...
Government coercion isn't Liberty.

The American Public, Taxpayers, and Consumers are paying for their own Enslavement, Serfdom, and throats being slit...

Boy, I'm very, very happy and relieved that I'm just about done getting out of the System and I've prepared and protected myself 😁...

Yes. But I think 8 years assumes they will attempt to soften or ward off the blow.. But right now they seem to be making things worse as both ends. Piling up more debt and lowering the potential for revenue..The cracks are showing now. I guess more like 5 years.. But thats a guess.. However, thats the timetable for the rich to protect themselves and to cash up to buy assets for a few cents on the dollar as the place goes bust and takes peoples livelihoods with it..😷

I have been hearing this for as long as I can remember! But, I do agree, this situation cannot go on forever!

Processing a mistake that wasn't chosen honestly that cannot be rectified, choice without coercion, broke the rules that I wanted

Neither of the two major political parties care to do anything about it. That is the scary part.

Yep. Govt has mismanaged the money for years. Both parties at fault.

That is why you don't vote Democrats, they gave away everything they could not steal. Trump, however, is the answer.

Thankfully doge extended it

The country cannot keep spending more than it makes. The debt has to be paid, and there are some expenses that cannot be avoided. Thus, income has to rise.

Just for the record, the US government is ALREADY spending 39% of all tax revenue collected by the IRS just to pay the interest-only on America's $35 Trillion in National Debt. That means there is absolutely NO amount being paid down on the principal amount.

When that National Debt swells to $52 Trillion, expect the government to be spending 59% of all tax revenue collected, JUST to pay the annual interest-owing on $52 Trillion!

Right now with a meager National Debt of only $35 Trillion, the interest-owing is equal to 3.1% of America's GDP.

When America's National Debt hits $52 Trillion, the interest-owning will be equal to 4.6% of America's GDP.

Social Security is not a ponzi scheme.

https://www.diffen.com/difference/Ponzi_Scheme_vs_Social_Security

And those forcelies take that system down, deliberate falseness breaks the code

Yup