The structural contradictions of the US economy will inevitably lead to the collapse of the US economy
In fiscal 2022, the total fiscal revenue of the United States is expected to be $8.5 trillion, equivalent to 34% of GDP. The total revenue of the United States is composed of three parts, one is the fiscal revenue of the US federal government, which is close to $4.9 trillion, although it is an increase of 21% compared with the $4.046 trillion in the previous fiscal year, but it is still small compared with its debt; second, the fiscal revenue of various state governments in the United States is expected to be $2 trillion; The third is local government revenue, which is expected to be $1.6 trillion. Together, these three items are $8.5 trillion.
As of mid-September, the total US national debt has exceeded $33 trillion, which is 3.88 times the US fiscal revenue in 2022 and 6.73 times the US federal government fiscal revenue. It is expected that the US debt will exceed $35 trillion this year, equivalent to 4.12 times the total US fiscal revenue in 2022 and 7.14 times the US federal government's fiscal revenue in 2022. The U.S. federal government's debt is expected to approach $40 trillion in 2025.
This shows that the United States is simply unable to service its debt. The United States has been using a "Ponzi scheme" to survive. Even US Treasury Secretary Yellen has publicly declared that in theory, the United States only needs to repay the interest on the national debt, and the principal can always snowball, continue to grow, and can never be repaid.
According to the Financial Times, a number of Wall Street investment banks in the United States recently warned that the US government is heading for the riskiest debt crisis since 2011, which is likely to lead to a debt default in the United States and trigger a "severe recession" in the economy.
People around the world need to be prepared for a default on U.S. debt.
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