Time to Take a Look at the U.S. Fiscal Situation!

And then stake out a long-term gold and silver position!

“Any way you look at it, interest costs on the national debt will soon be at an all-time high!” 

So says the Peter G. Peterson Foundation, a nonpartisan organization dedicated to addressing America’s long-term fiscal challenges.  They provide the following illustrations of the problem Washington has created.

Other major items in the 2023 national budget were easily bypassed by rising interest expenditures which totaled $659 billion.

As outsized as that interest expense is, the Congressional Budget Office says that this year, 2024, it will rocket 32 percent higher, to $870 billion. 

Interest expense will soon be the single largest US budget item – even bigger than Social Security, Medicare, or the war budget.

The Peterson report on rising federal interest expenses concludes with this warning: “By any measure, interest costs as part of the federal budget are at an all-time high, and trending even higher in the years ahead.  Securing our nation’s fiscal and economic future will mean getting these interest costs under control.

We simply do not believe that the federal budget will be reined in.  Period.  We have no way of knowing exactly what Washington will do other than by looking at the propensities of the governing classes today.  We are sorry to report that we see little but fiscal and monetary irresponsibility at every turn.  There simply is no meaningful coalition for fiscal rectitude in Washington at all.

Under the circumstances, informed people will want to protect themselves now with a substantial position in physical gold and silver.  It is the prudent thing to do at the end of an empire.