$100 Trillion – A World Out of Control

Hundred-dollar bills disintegrating in hand.

(TheConservativeTimes.org) – The International Monetary Fund (IMF) has sounded the alarm as the global public debt is set to surpass $100 trillion this year, which could threaten economic stability and American prosperity.

See the tweet below.

This staggering figure, driven by reckless government spending and failed liberal policies, could lead to severe consequences for hardworking taxpayers and future generations.

According to the IMF’s latest Fiscal Monitor report, global public debt is projected to reach 93% of the global Gross Domestic Product (GDP) by the end of 2024 and approach a dangerous 100% by 2030.

The situation is particularly alarming in the United States, where the fiscal 2024 deficit is expected to balloon to about $1.8 trillion, over 6.5% of GDP.

This runaway spending, fueled by the Biden administration’s socialist agenda and unchecked government overreach, is pushing America towards a fiscal cliff.

As if the current debt crisis were not bad enough, the upcoming U.S. presidential election could further exacerbate the problem.

Liberal candidates are proposing massive tax cuts and reckless spending plans that could add trillions more to federal deficits, putting an even greater burden on hardworking Americans.

“The world’s total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors higher spending and slow growth amplifies borrowing needs and costs,” the IMF stated.

Moreover, the IMF warned that countries with growing debt, including the United States, Brazil, Britain, France, Italy, and South Africa, could face costly consequences if adjustments are postponed.

The IMF also suggested that a fiscal adjustment of 3.0 to 4.5% of GDP is needed to control global public debt – nearly double the size of past adjustments.

This could translate to devastating cuts in essential services and increased taxes on hardworking Americans, all thanks to the irresponsible policies of big-government liberals.

The IMF’s dire warnings should serve as a wake-up call to all Americans who value fiscal responsibility and economic freedom.

As the general election approaches, voters must support candidates who understand the importance of addressing this looming debt crisis.

Only by returning to sound fiscal policies and American values can Americans hope to secure a prosperous future for themselves and future generations.

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