RE: US Deficit Will Be 6 Times – At Least – Bitcoin Market Cap
And every year from now it will never be less than $1 trillion – has there ever been more of a time for Plan B?
“The average budget deficit of the United States will “never” be less than $1 trillion per year in the future — or 4.5% of GDP, worrying data on the fiat economy shows.
Compiled by the U.S. Congressional Budget Office (CBO) and shared by crypto hedge fund manager Travis Kling on Jan. 21, statistics reveal that the annual deficit is set to hit $12.2 trillion for the entire 2020s.
$1 trillion is more than six times the market cap of Bitcoin (BTC) and four times the market cap of all cryptocurrencies combined.
The data concerned Kling, who like other Bitcoin proponents has drawn clear distinctions between the cryptocurrency and fiat currency.
As Cointelegraph reported, the deficit is not the only worrying aspect of U.S. economic policy to surface in numbers in recent months. Late last year, it emerged that the country’s total debt is now higher than ever at $23 trillion, while the world’s total debt is $255 trillion — or $12.1 million for each Bitcoin.”
It is truly staggering and mind-numbing to sit and digest a trillion-dollar + deficit and how the Fed is just printing dollars left and right.