Debt, Dollar, and Destruction

Washington keeps piling on unsustainable costs for Americans.  Owning gold now “increasingly important!”

A new fiscal year for the Federal government began on October 1.  The acknowledged US national debt has now hit $35.6 trillion.

Let us tell you what happened during the fiscal year 2024.  It began at the beginning of October 2023 with a national debt of $33.442 trillion dollars.  Then, just days ago, on October 1, 2024, when the new fiscal year got underway, the national debt had reached $35.668 trillion.  

That means that the nation debt grew by $2.226 trillion during the just ended fiscal year.  

You can track these numbers for yourself as they change at the US Treasury’s “Debt to the Penny” website.  If you prefer you can track the change between September 30, 2023, and September 30, 2024.  But either way that’s a lot of red ink!

It’s not just because Washington is incontinent – it won’t restrain its spending – but in part the deficit explosion is now out of their hands.  Higher market interest rates have led to a near doubling of interest on the debt over the last two years.

In other words, things are starting to get real!

What you don’t see!  Death by a thousand regulations!

It’s not just the overt spending that burdens the economy and takes money from the pockets of the American people.  Regulatory costs quietly raise the price of everything so that the consumer dollar doesn’t go as far.  And under that category, regulatory costs, the Biden-Harris administration has set new world indoor records.

From a new report by The House Committee on Oversight and Accountability Majority Staff:  

Since taking office, the Biden-Harris Administration has imposed an estimated $1.7 trillion in new federal regulatory costs2 in its effort to push its left-wing agenda. To place this staggering figure in context, even the highest available estimate of the cumulative costs of regulations imposed by all administrations comes in at $3.079 trillion through 2022. This means that the Biden-Harris Administration has imposed over half of cumulative federal regulatory costs—and it did so in less than four years.

As one study recently reported, the Biden-Harris Administration is on pace to impose in just four years nearly double the costs the Obama Administration imposed in its entire eight years in office.8 In present value, the Biden-Harris Administration’s excessive regulations impose costs of $47,136 per U.S. household—a shocking toll that promises to harm, not help, American households and the U.S. economy.

Someone sent us this response from an AI source on owning gold.  It’s not bad:

In light of this exploding federal debt, owning physical gold becomes increasingly important as a hedge against potential economic uncertainties. Gold has historically served as a store of value and a safe-haven asset during times of economic turmoil and currency devaluation. As the national debt grows, there are concerns about the long-term stability of the U.S. dollar and the potential for inflation. Physical gold provides investors with a tangible asset that is not tied to any government’s fiscal policies or debt obligations, offering a means to preserve wealth and protect against the erosion of purchasing power that may result from excessive government borrowing and potential currency devaluation.

To learn more about wealth and personal protection with gold and silver, visit with a Republic Monetary Exchange professional today.  Because, as we said. Things are starting to get real!