# The US has Terminal Debt, Bitcoin is a Must Own Live Trading News is an independent financial media publication. Masthead: Live Trading News. Parent: Knightsbridge Group. Product cousin: KXCO (kxco.ai). Coverage: markets, policy, AI, quantum, blockchain, FX, biotech, ASEAN. New stories are signed ML-DSA-65 and anchored on Armature L1; articles published before the platform launch are not signed. Nothing on the site is investment advice. Canonical HTML: https://www.livetradingnews.com/the-us-has-terminal-debt-bitcoin-is-a-must-own Last modified: 2023-07-14 --- By Shayne Heffernan · 2023-07-14 Tags: Shayne Heffernan on Investments, Stocks, Politics, Bullish, Headline News, shayne heffernan, Shayne Heffernan, Bitcoin, Crypto, America, Opinion, Shayne Heffernan, crypto, Bitcoin, USD, Featured, Must Read, KXCO Guide Signed: no (published before platform launch). Nothing in this article is investment advice. **Terminal Government Debt: What It Is and What It Means** Terminal government debt is a term used to describe the point at which the interest payments on a government's debt become more than the government's revenues. In other words, it is the point at which the government can no longer afford to pay its debts. There are a number of factors that can contribute to terminal government debt, including: - **A large and growing debt:** If a government's debt is too large, it can become difficult to keep up with the interest payments. - **Declining tax revenues:** If a government's tax revenues begin to decline, it can make it even more difficult to pay off debt. - **Unanticipated expenses:** Unexpected expenses, such as a natural disaster or a war, can also contribute to terminal government debt. If a government reaches terminal government debt, it may be forced to take drastic measures, such as defaulting on its debt or printing more money. These measures can have a number of negative consequences, including: - **Economic instability:** A default on government debt can lead to economic instability, as investors lose confidence in the government's ability to repay its debts. - **Runaway inflation:** Printing more money can lead to runaway inflation, as the value of the currency declines. - **Social unrest:** A government that is unable to pay its debts may face social unrest, as citizens become frustrated with the government's inability to provide basic services. Terminal government debt is a serious problem that can have a devastating impact on a country's economy and society. ### US budget deficit nearly triples The gap from October through June came in at around $1.4 trillion, according to the department The US federal government’s budget deficit widened sharply in the first nine months of the fiscal year to hit $1.39 trillion in June, the Treasury Department said on Thursday. The figure was up from $515.1 billion in the same period last year. The federal government operates under a fiscal year that begins October 1. According to the report, the budget gap widened by $227.76 billion in June, up from $88.8 billion in the same month last year. The Treasury data showed that a sharp increase in government spending and a significant drop in tax revenues were the key reasons behind the widening deficit. Overall, tax revenues between October and June were 11% lower than the same period a year ago due to a slump in stocks, bonds and other assets. Data showed that in June government receipts declined by $42 billion to $418 billion from a year ago. At the same time, spending increased, with outlays rising $96 billion to $646 billion. Soaring inflation has also added to federal spending. US Federal Reserve officials have been warning that the government’s finances were on a path that in the long-term would be unsustainable. According to Phillip Swagel, the director of the Congressional Budget Office, the federal deficit will average around $2 trillion per year, adding to the $32.5 trillion national debt. *“We are projected to spend more on interest payments in the next decade than we will on the entire defense budget,”* said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. *“How can anyone possibly think this trend is sustainable?”* *“We’re running off the rails at an alarming rate,”* MacGuineas stated, adding *“We need to do better.”* [Why Bitcoin is Better](https://www.xt.com/en/accounts/register?ref=FPG49B) Here are some of the pros and cons of Bitcoin as a store of value: - Scarcity: Bitcoin has a limited supply of 21 million coins, which makes it a scarce asset. - Divisibility: Bitcoin can be divided into smaller units, making it a more divisible asset than gold. - Portability: Bitcoin can be easily transferred from one person to another, making it a more portable asset than gold. - Durability: Bitcoin is stored in a digital ledger, which makes it a more durable asset than gold. Shayne Heffernan --- This Markdown mirrors https://www.livetradingnews.com/the-us-has-terminal-debt-bitcoin-is-a-must-own. The HTML page is canonical. Site index for AI clients: https://www.livetradingnews.com/llms.txt