US Debt Hits 22 Trillion Dollars And That is Why Bitcoin Matters



us dead hits 22 trillion dollars and that's why Bitcoin matters next on your four minute crypto Daily News today's show is from a post by Ben Brown at CCN dot-com and brought to you by bit block boom take a look at this great Bitcoin conference coming to Dallas Texas at bit black boom calm I hope I get to see you in Dallas Texas now today is a record moment in US history the total national debt of the United States has surpassed 22 trillion dollars for the first time ever this runaway debt is a terrifying reminder of how fragile the Fiat monetary system is now if you want to watch it pile up in real time visit the u.s. debt clock and US debt clock org it's really a sobering vision of a system out of control and this is why Bitcoin matters Bitcoin with its fixed supply and its anti inflationary policy is an antidote in waiting the national debt jumped 30 billion dollars in the last month alone in total the u.s. racked up more than 1 trillion worth of debt in the last year the Dead has spiraled since Donald Trump introduced his 1.5 billion dollar tax cut plan last year however Obama was a much worse offender the national debt doubled under his presidency now although many will maintain the economy is booming this is like a car crash coming in slow motion now Jared Bernstein a senior fellow at the Center on Budget and Policy Priorities explained that even if you think that public debt just doesn't matter to economic cut outcomes the thing you have to admit is that when we hit a downturn governments are less likely to take significant steps at the debt is as high as ours is he continued by saying that when the next recession comes and it will come the US will find it much more difficult to pay back the debt they're unlikely to support struggling institutions like they did in the wake of the 2008 crisis instead they'll be forced to turn to the Federal Reserve to print more US dollars in effect this increases inflation and it pushes down purchasing power of your money in the worst cases it can lead to hyperinflation like we're seeing right now in Venezuela bitcoin is the alternative monetary system unlike fiat it has a fixed supply so central banks can't endlessly print more mandus monetary policy is not controlled or manipulated by any one entity when the debt bubble finally pops people will flock to an alternative shape-shift CEO Erik Voorhees has predicted that the growing national debt will inevitably lead to a cryptocurrency boom now for now the national debt continues to build as Judd Gregg and Edward Rendell of campaign to fix the deck conclude this is another sad reminder of the inexcusable tab our nation's leaders continue to run up and we'll leave for the next generation now my question is how high can the national debt go before it's it's over or has it already gone there let me know your thoughts on Twitter when I'm at Gary Leland and don't forget to subscribe to the four-minute crypto show for a new episode every weekday this is a crypto cousins dot-com production

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