Facts Matter

We are just less than three weeks out from the 2024 election. Meaning that in about three and a half weeks—or however long it takes to count the votes—we’re going to know who will lead the country for the next four years.

Regardless of who wins, however, there is a massive structural problem in America that is essentially colorblind. It’s not red, it’s not blue—so it doesn’t matter who’s in office. It’s that the design of the system will make it such that inflation will re-accelerate.

The national debt currently sits at an astonishing $35 trillion. Looking at the national debt on a timeline, the increase over the last 100 years has been staggering, going from about $400 billion in 1923 to $35 trillion today—an increase of 8,750 percent.

To give you some perspective on that, if the United States were to completely stop all of its spending and, instead, the federal government spent a million dollars every single minute to pay off this debt, it would never get paid off—because we’re currently paying $2 million dollars per minute just to service the interest on that debt.

And so today, let’s go through the details of the situation, and why inflation is essentially the only answer to this problem—regardless of who’s in office. Join host Roman Balmakov on this week’s episode of “Facts Matter.”