US Debt Soars: $100 Billion Increase in One Week

The Kobeissi Letter reported on September 26 that the total US debt has increased by $100 billion since crossing $33 trillion precisely one week ago. In addition, this represents an increase of $14.3 billion per day in US debt over the past week. This exceeds the total amount of Ethereum wagered on Lido, which is worth approximately $13.8 billion.

Kobeissi added approximately $3 billion per day in interest expenses, bringing the total to over $17 billion daily.

This represents a daily increase more significant than the total market capitalization of Cardano and Solana combined.

The outlet added that deficit spending has grown so large that the United States will issue $2 trillion in bonds over the next six months, driving up interest rates.

In addition, the debt ceiling remains unrestricted until January 2025, so these staggering numbers will become the norm. In the next four years, the US debt clock predicts that it will reach an epic $45 trillion.

The exponential debt problem is not unique to the United States. The world’s central banks have been manufacturing money, driving global debt to a record $307 trillion.

According to the Institute of International Finance (IIF), markets such as the United States and Japan were responsible for the increase.

It was reported last week that the global debt in dollars increased by $10 trillion in the first half of 2023 and by $100 trillion over the past decade.

In contrast, crypto markets are mere fish compared to these numbers. The market capitalization of all digital assets is just $1 trillion. This quantity has been added to the United States national debt this year.

The crypto markets are lackluster, and sentiment is at bear market lows. Consequently, the total market capitalization has increased marginally over the past 24 hours, reaching $1.09 trillion.