$6B Daily Debt Splurge: Uncle Sam’s Wild Spending Spree!

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Well, folks, it seems like Uncle Sam has been hitting the credit card harder than a shopper on Black Friday. Investors are scrambling for safe havens like Bitcoin and gold as the US national debt is creeping up to a jaw-dropping $38 trillion. 🤯

The national debt, currently sitting at a cozy $37.9 trillion, is ballooning at a rate of $69,890 per second-or nearly $4.2 million per minute. That’s right, every minute, we’re spending enough to buy a fleet of luxury yachts or, you know, fund a small country. 🚤

This madness adds up to a whopping $6 billion per day, which is more than the GDP of over 30 countries. At this rate, we’ll need a calculator with more digits than the national debt itself. 🧮

US Representative Keith Self chimed in on Friday, warning that the debt is set to surpass $38 trillion in weeks and could hit $50 trillion within a decade. He urged Congress to wake up and smell the bankruptcy before the gradual slide turns into a full-blown collapse. “Congress must act now-demand fiscal responsibility from your leaders before the gradual slide becomes a sudden collapse,” he said. Wise words, Keith. Let’s see if anyone’s listening. 🙉

At this rate, the US is expected to surpass $38 trillion in 20 days. That’s faster than you can say “Where did all the money go?” 🏃

Investors Flock to Bitcoin and Gold 🤑

Last week, JPMorgan dubbed Bitcoin (BTC) and gold the “debasement trade” amid increased uncertainty in the dollar. Bitcoin hit a new all-time high of $125,506 on Saturday, while gold soared to $3,920 on Sunday. Not bad for shiny rocks and digital monopoly money. 💎💻

Bitcoin’s fixed supply and decentralized nature have drawn increased institutional attention, with the likes of BlackRock CEO Larry Fink-once a Bitcoin critic-stating in January that Bitcoin could hit $700,000 due to currency debasement fears. Ray Dalio, the founder of Bridgewater Associates, recommended in July that investors allocate 15% of their portfolios in hard assets like Bitcoin or gold to optimize for the “best return-to-risk ratio.” Smart move, Ray. Diversify like your life depends on it. 💼

It’s Not Just America, Says Dalio 🌍

Dalio also pointed out that other Western nations like the UK are facing the same “debt doom loop” issue and that their currencies will continue to underperform relative to Bitcoin and gold, which he described as an “effective diversifier.” Reuters reported that global debt grew to a record high of $337.7 trillion by the end of the second quarter, fueled by more quantitative easing and a softer US dollar. Looks like the whole world’s on a spending spree. 🌎💸

Trump’s Effort to Slow US Debt 🚫💰

Cutting federal spending and reducing the deficit were cited as policy priorities under the Trump administration. For a few months, Tesla CEO Elon Musk was brought in to assist with the Department of Government Efficiency, saving $214 billion so far. However, President Donald Trump signed the “Big Beautiful Bill Act” in July, seeking to save more than $1.6 trillion in federal spending. 🖋️

Musk left as his 130-day limit as a special government employee neared its completion, and his previously strong relationship with Trump took a turn for the worse. Meanwhile, implementing that bill helped push US debt past $37 trillion and is expected to cost $3.4 trillion over the next 10 years. Well, that’s one way to make a splash. 💥

Thanks to the One Big Beautiful Bill Act, the debt just officially passed the $37 trillion mark.

– Thomas Massie (@RepThomasMassie) August 13, 2025

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2025-10-06 08:25