Carol Roth

And we haven't collapsed because, you know, up until this point, we've had the world's reserve currency.

We have the world's trading currency.

We have a huge economy and markets.

And so that's been able to kind of hold it together.

But at times things go sideways and the Fed needs to intervene in that.

We're running deficits

Right now, I think it's close to the 6% of GDP range.

Well, that's a level that you would see during a crisis, a recession, a war.

You don't see that when we have an expansionary economy, when a growth economy starts.

Because if you think about it, the economy grows, the government takes in more money that should shrink the deficit.

But we're seeing the opposite happen.

We're seeing these massive deficits.

Again, something that happened under the Biden administration because they didn't want to go through a recession.

And so they just spent more to paper over it, create the appearance of growth.

And then you still have this huge deficit.

And at the time that we have all of this going on, given our massive debt load,

and the fact that we have lots of debt that continue to need to be refinanced,

We are now having the interest rate on the national debt, or excuse me, the interest payments on the national debt, so the amount that we're servicing for that national debt, kind of like if you have a credit card, the amount that you owe and you have to pay on your credit card.

Our debt payments every year are now exceeding the country's expenses on defense.

So the defense of our nation is now second to our interest expense.