June 7th the national debt of the United States was $8.85 trillion, which leaves the annual interest on this large amount of debt over $406 billion or over one billion dollars everyday.
The debt of the United Sates continues to pile at the rate of $1.38 billion a day. The debt of the US is compounding, leaving a negative effect on the dollar, as well as, the incomes of the working class.
Experts continue to speculate about the financing of the US debt. “It will be financed through inflation,” said Richard Russel, a market analyst.
Russel continues by saying, “I’ve watched the purchasing power of the dollar going down the drain all my life. Now the process seems to be accelerating.”
There are a few theories based on history suggesting the price of precious metals will rise as paper money is devalued. A few analysts have named the dollar the “Achilles Heel of the U.S.”
“The US has no alternative but to continue on the path of systematic inflation,” says Russel.