YOU DON’T SAY: IMF sounds alarm on ballooning US national debt: ‘Something will have to give.’

Under current policies, public debt in the U.S. is projected to nearly double by 2053. The IMF identified “large fiscal slippages” in the U.S. in 2023, with government spending surpassing revenue by 8.8% of GDP – a 4.1% increase from the previous year, despite strong economic growth.

If this trend continues, the Congressional Budget Office anticipates the national debt will grow to an astonishing $54 trillion in the next decade. Higher interest rates are also compounding the pain of higher debt.

Should that debt materialize, it could risk America’s economic standing in the world.

The IMF is talking down to Washington like we’re a Third World country because that’s the direction Washington is taking us.