The terrible US fiscals

Bryce Wilkinson writes:

Imagine that your family spent twice as much as it earned last month. Around the kitchen table, the mood would be grim and the bank’s patience likely wearing thin.

In August 2025, the United States federal Government spent over twice its income, US$689 billion ($1.152 trillion) versus receipts of US$344b. Even doubling every American’s tax bill would not have closed that gap.

This can’t carry on. At some stage it will crash, and the fallout will be massive.

We need to have much lower debt and be in surplus when the next economic crash occurs.