The Congressional Budget Office (CBO) has released a new budget outlook report, projecting that the US national debt will skyrocket to an astonishing $141 trillion by 2054. According to the non-partisan federal agency, the United States’ GDP will reach $85.2 trillion in the next three decades, but the debt will be a staggering 166% of that amount. This excessive debt poses a significant threat to the dollar’s status as the reserve currency, warns the CBO. It could lead to higher inflation and erode confidence in the US dollar as the dominant international reserve currency.

As of now, the US national debt stands at $34.64 trillion. The CBO predicts that the rapidly growing debt will eventually drive up borrowing costs, causing private investment to decline. This, in turn, will result in slower economic growth and adversely affect the lives of American workers. The reduction in private investment will lead to a decrease in the capital used for the production of goods and services, such as housing and commercial structures. As a result, workers will have fewer resources to perform their jobs, leading to lower productivity and compensation. Consequently, they will be less motivated to work. These effects will only worsen over time as federal borrowing continues to increase.

It is crucial for investors to stay informed about these developments. However, it’s important to exercise caution and conduct thorough research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades carry their own risks, and any losses incurred are the responsibility of the individual. The Daily Hodl encourages readers to approach cryptocurrency investments with due diligence and reminds them that they should not rely solely on its content for investment advice.