Recently, the issue of the runaway US national debt has sparked heated discussions.
On June 21, veteran media personality William Pesek published an op-ed in Asia Times, "U.S. Debt Approaching $50 Trillion Is Not the Whole Story."
According to the Congressional Budget Office, by 2034, the size of the US national debt will reach $50 trillion, and the debt-to-GDP ratio will reach 122%.
Peseker pointed out that the Congressional Budget Office is too optimistic, and in 10 years, the size of the US national debt will be well over $50 trillion.
The current U.S. national debt is close to $35 trillion, with an annual interest of about $134 million.
It is basically impossible for the United States to pay off its national debt, because the US government has a fiscal deficit of $1.7 trillion a year, and it is simply unable to repay it.
The only way is to keep breaking the national debt ceiling, issue more government bonds, and use new debt to pay off old debt.
At the current rate of spending money by the U.S. government, it will not take 10 years for the national debt to exceed $50 trillion, and then it will need to pay higher interest.
However, that's not the whole story.
In the United States today, the contradictions between the two parties are irreconcilable.
What Biden opposes, Trump supports; What Trump supports, Biden will repeal.
The United States is no longer able to plan long-term goals for more than four years, and national policies are constantly changing back and forth.
Yes, the United States also wants to engage in an industrial economy like Asian countries, but due to repeated policies, it is difficult to sustain it, and the result is very ineffective.
In addition, the United States has always advocated a market economy and has no experience in industrial economy, so it takes time to cross the river by feeling the stones, but the United States cannot do it.
The United States seems to be caught in a strange circle, where one area is lagging behind, either imposing sanctions or using tariff barriers, but this does not allow the United States to make industrial progress.
However, that's not the whole story.
The current United States is becoming more and more like the Soviet Union in the later period.
The government has been running a chronic deficit and the army is bloated. False ideologies promoted by elites. The general population is in poor health. Leaders are aging. Sounds familiar, right?
This is what happened in the late USSR, and the United States was at this stage.
The government's financial situation is deteriorating, the army is bloated, and defense spending is huge, and sooner or later the country will be dragged down.
In addition, the US army lacks modern equipment, under-funded training and maintenance, and seriously backward infrastructure.
The American political elite emphasizes ideology, saying one thing and doing another, making the United States seem to have no credibility at all.
At the end of the Soviet Union, the infant mortality rate was about 25 per 1000. In 2021, the ratio in the United States was 5.4 per 1,000.
But for single moms in the Mississippi Delta or Appalachian Mountains, the ratio is 13/1000.
Over the past decade, life expectancy in the United States has fallen dramatically, unprecedented in similar developed countries.
Deaths from drug overdoses, alcoholism, and suicide have increased dramatically, homelessness is everywhere, and various diseases associated with obesity are on the rise.
Take a look at the presidential candidates of both parties, Trump is 78 years old and Biden is 81 years old.
They made the leaders of the USSR not look so old.
Although most Americans don't like either one, they are still the only two candidates, can't the United States find a younger and more promising leader?
This is the America of today, and he has finally become what he once hated.
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