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$167,911,000,000 Added To US National Debt in 20 Days As Citadel CEO Warns Government Spending at ‘Borderline Insanity’
Henry Kanapi
March 22, 2024 – DAILY HODL
The CEO of a $60 billion hedge fund says Americans should be alarmed about the country’s rapidly expanding debt.
New numbers from the Treasury Department show the national debt climbed from $34.393262 trillion on March 1st to $34.561173 trillion on March 20th, a rise of $167.911 billion in just 20 days.
At this point, the rapid pace of the country’s debt accumulation poses a major risk to America’s fiscal future, according to Citadel CEO Ken Griffin.
In a new CNBC interview at the International Futures Industry conference in Florida, Griffin says the lack of daily dialogue about the growing national debt is allowing the government to borrow at a rate that’s irrational and dangerous.
Griffin says no outside entity can or will save the United States from a debt crisis.
“I think the biggest issue that’s not priced in the markets right now is the sovereign risk of US credit… It’s not AAA anymore, I wish it were AAA.
I think it’s just not part of the day-in and day-out dialogue, and that allows Washington to continue to spend at levels that are borderline insanity at this point in the economic cycle.
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We’re talking about a budget next year of $7 trillion. Spending is up about 20% in two years. This is just out of control, and unfortunately when your sovereign markets start to put the hammer down in terms of discipline, that could be pretty b****l. There’s no country that’s going to bail America out. We’re going to right our own ship. There’s no IMF for the United States of America.”
CNBC VIDEO INTERVIEW: https://www.youtube.com/watch?v=SIwcCy5zg5E
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