Experts Warn that Biden's 2024 Budget Will Send Debt Skyrocketing Even Higher... Could Leave Retirement Accounts at Risk
A massive $6.8 trillion annual budget is coming. It's impact could be far reaching beyond what most people realize. Are you prepared?
Biden recently unveiled a massive $6.8 trillion annual budget proposal for the 2024 fiscal year. Despite his claims of reducing the deficit, the Congressional Budget Office estimates that deficits between 2021 and 2031 will be $6 trillion higher than previously projected due to Biden's spending.
Concern over this unsustainable financial situation is mounting. Fitch downgraded the US credit rating from AAA to AA+ due to a “deterioration” of the country’s finances, the growing debt burden and the “erosion of governance.” This means that higher taxes and borrowing costs are not merely possibilities, but approaching realities...
How much more spending can we take? Who will be paying for all these rising costs?!?
If you guessed the US taxpayer… you're on track.
Members from the Senate Committee on the Budget, warned that this lack of fiscal responsibility could cause a "financial Armageddon." They say Biden's budget is a tax hike budget "that will hit millions of hardworking Americans... By the end of the budget window, taxes as a share of the economy reach levels only previously seen during World War II."
The media agrees: "The latest grim news on the exploding federal government deficit testifies to the recklessness and incompetence of President Joe Biden," the Washington Examiner recently reported.
The nation's leading independent tax policy non-profit, the Tax Foundation, estimates Biden's plan would:
● Destroy 335,000 jobs.
● Cut workers’ wages.
● Reduce growth in America’s economy.
If this is what we have to look forward to, it may be time to sound the alarm…
Learn what Americans are doing to help protect their accounts.
With soaring interest rates pushing the economy to its limits and foreign investors moving away from the U.S. dollar, the writing is on the wall in big bold bold letters.
"Signs of de-dollarization are emerging," says analysts with JPMorgan, and the end of King Dollar may be near.
As the U.S. dollar’s status as the world’s reserve currency is threatened, the implications could be devastating. For Americans, it could mean skyrocketing interest rates and soaring inflation or even worse...
To add salt to the wound, the government has been pouring efforts into developing a new digital dollar. The new Executive Order 14067, passed by the Biden Administration promotes a new U.S. Central Bank Digital Currency (CBDC).
This "digital dollar" that the Biden administration is pushing forward could open the door to even greater government control over individual finances.
As The Brookings Institution has warned, "A digital dollar could threaten what remains of anonymity and privacy in commercial transactions." What if they decided to shut down your specific account for "national security" or "public health" reasons? How much more can we allow the Government to overstep?
See how you can help protect your savings from the attack on the dollar.
How much longer can this go on before the whole house of cards comes crashing down? Major banks are now warning of a recession next year - one that threatens to upend the lives of millions of Americans.
A JPMorgan Chase economist recently said that there could be, “a synchronized global downturn sometime in 2024”. Economists at Bank of America and Vanguard agree, adding that "we still assign a high probability to a recession."
It’s time to take control of your financial future and help protect yourself from Biden's reckless spending. It is important you explore the different opportunities available to you to help you get prepared.
Click here to get your complimentary retirement guide!
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