US Debt Bitcoin
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NAIROBI (CoinChapter.com) - The U.S. national debt has surpassed the $35 trillion mark for the first time, signaling the country’s escalating fiscal concerns. According to the Congressional Budget Office, the figure could rise to $56 trillion by 2024, while the federal deficit could contribute an additional $22 trillion from 2025 to 2034.


U.S. Treasury bond analysis.
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Kobeisi letter
Most of this debt growth occurred during the COVID-19 crisis in 2020. Since then, it has increased by $12 trillion, equivalent to about $105,000 in debt per person. This growth has been driven by broad federal spending and economic stimulus measures, pushing deficit spending to levels not seen since World War II.
High costs and political deadlock
Growing debt poses a serious challenge, with high interest rates compounding the difficulty of managing the fiscal burden. Projections show that by 2034, the United States will spend about $1.7 trillion per year on interest payments. This fiscal reality highlights the urgency of resolving the debt crisis.


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X
Despite the urgency of addressing the problem, political leaders have offered limited solutions. Vice President Kamala Harris and former President Donald Trump have remained relatively silent on the issue. The Biden administration has proposed a $3 trillion deficit reduction plan, primarily through increased taxes on high earners and corporations.
Republicans believe Democratic policies have worsened the debt problem and offer spending cuts as a solution.
Can Bitcoin Be America's Financial Savior?
At a recent Bitcoin conference in Nashville, former President Donald Trump pledged to transfer $15 billion worth of Bitcoin seized by the U.S. government to the Treasury Department. He advocated for Bitcoin mining in the United States, noting that if they don’t do it, China will.
Additionally, Senator Loomis introduced legislation that seeks to reduce the national debt by purchasing 1 million Bitcoins over a five-year plan to create a strategic Bitcoin reserve.


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Senator Loomis
She believes that adding Bitcoin to the reserves will strengthen the dollar, thereby reducing inflation.
The United States currently maintains strategic reserves in assets such as gold and oil. Adding Bitcoin would enhance the dollar with digital assets, ensuring the country maintains financial leadership for decades. The proposed Bitcoin reserve would hold the cryptocurrency for 20 years and be used only to repay the national debt.


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Autism Capital
Presidential candidate Robert Kennedy Junior has also proposed a bold plan to sign an executive order instructing the U.S. Treasury to buy 550 bitcoins a day until the reserve reaches 4 million bitcoins. This plan is designed to give the United States a dominant position in the leading financial role.