America’s national debt is skyrocketing, and figures like Elon Musk are sounding the alarm, calling it “debt slavery.” Since 2020, the U.S. has piled on over $12 trillion in new debt, a sum that took 221 years to accumulate previously. This brings the total national debt past $36 trillion, exceeding 122% of GDP.
This rapid increase is largely due to pandemic-era stimulus, defense spending, and unfunded policy commitments. The consequences are already being felt: interest payments alone consume nearly 25% of federal revenue, a figure projected to hit one-third within a decade if current trends continue.
Elon Musk, taking to X, highlighted the alarming shift in the fiscal landscape, noting how the debt curve has turned sharply vertical post-2020. He’s even pushing to “KILL the BILL” — referring to the Trump-backed “One Big Beautiful Bill Act,” which aims to raise the debt ceiling by another $5 trillion. Critics argue this act, along with extending 2017 tax cuts and other measures, could plunge the country deeper into unsustainable territory.
Wall Street Voices Concern
Wall Street heavyweights are echoing these worries. Jamie Dimon, CEO of JPMorgan, has urged action to curb spending, warning of a potential bond market crisis. Ray Dalio, a prominent hedge fund titan, has cautioned about a looming “debt crisis” and even a “debt death spiral” if confidence in U.S. fiscal discipline erodes. The Council on Foreign Relations predicts that without significant reforms, the debt could double again in 30 years, severely limiting the government’s ability to invest in crucial areas like defense, infrastructure, or social programs.
A Slow Erosion of Economic Vitality
While an immediate crash isn’t the primary concern, economists warn of a slow erosion of economic vitality. This could manifest as reduced job growth, depressed wages, and forcing future generations to bear the burden of today’s excessive spending. Moody’s has already downgraded its outlook on U.S. sovereign credit, citing persistent deficits and political gridlock.
The term “debt slavery,” though not an academic term, is gaining traction as a stark way to describe a future where interest payments dominate the federal budget, leaving little room for anything else.
Hey there!
Welcome to Moviezhive.com, where blockbuster entertainment is just a click away!
Stream a vast collection of Bollywood, Hollywood, and international movies for free—no subscriptions, no hassles.
What Makes Us Special?
✔️ Thousands of movies across all genres
✔️ Zero pop-up ads for seamless viewing
✔️ Advanced zero-buffering tech for smooth playback
✔️ Fresh titles added regularly
Can’t find a movie? Request it, and we’ll upload it fast!
Watch anytime, anywhere. Visit https://moviezhive.com now and start your movie adventure!
Enjoy the Show,
The Moviezhive Team