One of the reasons I'm bullish for the future of cryptocurrency. As their dollars become increasingly valueless, people will turn to currencies that aren't constantly being devalued by profligate politicians. If Bitcoin (or, even better, Monero) becomes as widely adopted as the dollar, the price per Bitcoin will rise above $1 million / bitcoin.
"...federal debt reached a high of around 6 times annual federal revenues during the Civil War and again World War II. Today, at $27 trillion, the federal debt is almost 8 times annual federal revenues—higher than it was during our greatest wars, yet still just over half of what it was in the late 1700s. And, if CBO forecasts are to be believed, the debt-to-revenue ratio will rise to 8.5 in 2021, then fall steadily to just below 7 by 2030.
If CBO forecasts are to be believed.
If we adjust CBO forecasts for their historical biases, we get a very different picture. The adjusted CBO numbers show the debt-to-revenue ratio passing the 15 mark sometime in 2028. If the CBO’s current forecasts are as off as have been their historical forecasts, sometime in 2028 the federal debt will reach a level that, when last seen, caused the government to issue a new currency."
"...federal debt reached a high of around 6 times annual federal revenues during the Civil War and again World War II. Today, at $27 trillion, the federal debt is almost 8 times annual federal revenues—higher than it was during our greatest wars, yet still just over half of what it was in the late 1700s. And, if CBO forecasts are to be believed, the debt-to-revenue ratio will rise to 8.5 in 2021, then fall steadily to just below 7 by 2030.
If CBO forecasts are to be believed.
If we adjust CBO forecasts for their historical biases, we get a very different picture. The adjusted CBO numbers show the debt-to-revenue ratio passing the 15 mark sometime in 2028. If the CBO’s current forecasts are as off as have been their historical forecasts, sometime in 2028 the federal debt will reach a level that, when last seen, caused the government to issue a new currency."