The US Debt Hit 40 Trillion Dollars. Washington Chooses Inflation Over Solvency.

Here we are! We finally made it to $40 trillion in debt! Should we celebrate or hibernate? Congratulations, we are a debtor nation. I can tell you that those responsible for accumulating the nation’s massive debt care little; whether you are talking about the Republicans or the Democrats, they both agree on spending far more money than we have coming in. For all the talk of fiscal restraint, the spending continues, and we’re paying over $1 trillion per year just to pay the interest on the debt, not paying down the debt. This crowds out our ability to pay for necessary obligations, including Social Security, Medicare, and our nation’s defense.

And yet, American voters continue to vote for the same people who put us here. And unless something changes soon, we are in for a world of trouble. The federal government is accelerating its borrowing, causing an unforgiving inflation tax on the American people and eroding the value of the U.S. Dollar.

Taxpayers are now sending hundreds of billions of dollars to our bondholders simply to service past political waste. Mathematically, Washington cannot pay off $40 trillion through taxation without completely crashing the economy. The political establishment’s unspoken strategy is currency debasement: printing more dollars to pay back debt with devalued currency, silently stealing savers' wealth.

And both older political parties recently passed a spending package for our nation’s defense that is the largest in history. For all the rhetoric you hear on the news, Democrats and Republicans agree to spend more on subsidies, foreign aid, and expanded entitlement programs, all financed through endless deficits.

A nation drowning in $40 trillion of debt cannot remain free. Preventing a catastrophic economic collapse requires radical structural reform. We cannot rely on our current politicians to address the issue, as they continue to kick the issue down the road, which has put us in this position. What we must do is stop voting for those who put us here and vote for candidates sincere in reducing the federal spending.

On top of that, we must mandate that Congress pass single-issue appropriations bills bounded by strict spending limits tied to real economic production, not baseline budget growth. Next, we must abolish all unauthorized federal departments and programs, which are costing taxpayers billions each year. Lastly, and most important, effective action is to do the hard work of stripping the Federal Reserve of its authority to monetize federal deficit spending and eliminate capital gains taxes on gold, silver, and decentralized digital currencies to restore sound money.

A mid-term election is happening this November; are you going to vote for more deficit spending, or are you going to get serious and vote these irrational spenders out of office?