US Debt Will Trigger MASSIVE Financial Collapse In The Next Decade: Charles Hoskinson Crypto Outlook

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In a recent interview, Charles Hoskinson, founder of the Cardano blockchain, expressed concern over the political landscape. He argues that current political distractions and diverting attention from critical projections relating to the US Debt.

In June, the congressional budget office, a non-partisan watchdog released an update to its budget and economic outlook for 2024 to 2034.

The report highlights a concerning rise in the US Federal deficit which is projected to reach $1.9 trillion this fiscal year and to continue growing until the total debt reaches over $50 trillion by 2034.

According to the CBO debts over this period will total over $24 trillion which is about 50% larger than the historic average for the last 50 years when measured against economic output.

The CBO report forecasts significant increase in the budget deficit over the next decade driven by rising interest costs and increased spending on programs, such as medicare and social security.

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