Warren Buffett: The US Literally Can't Repay its Debt.
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The US national debt just hit a staggering 35 trillion dollars with the Congressional Budget office saying the US will never be able to pay this debt back. This number is growing with each passing second. That is why according to legendary investor Warren Buffett, the US is teetering on the point of no return. The most alarming part isn’t necessarily even the size of the national debt. Instead, it is the trend. You don’t have to be a brilliant investor like Buffett to realize that this is a terrifying chart. At the current trajectory of the US Federal Deficit, it is only a matter of time until the size of the US debt becomes significantly larger than the size of the US economy. This has Buffett worried that the US is potentially headed for the dreaded Debt Spiral. Where the growing debt results in higher and higher interest payments that increase that debt even larger. Add in the inevitable inflation that will arise and eventually the country crumbles under the weight of its debt. A process that has happened to countries and societies throughout history. Here’s what Buffett had to say when asked about whether the size of the US national debt was become too big to handle. To understand where the US economy goes from here, we first have to understand the basics. The most recent data shows the US national debt at over 35 trillion dollars. A number that is growing literally by the second