$USDEBT is not just a meme token; it is on a mission to raise awareness of the ballooning US national debt. The creators of USDEBT believe that while Americans may not personally feel the impact of the huge debt, they eventually will.
As the national debt of the US continues to rise, the issue will gain prominence amongst the masses, raising the profile of USDEBT. According to the US Treasury Department, the national debt is $33,738,697,843,484. As such, it will fuel demand for the tokens while also increasing awareness of crypto in general.
USDEBT is a living petition that is immortalized on the blockchain. It is a way for holders to exercise their freedom of speech, while acting as a living reminder to policymakers of the impact of policy decisions on future generations.
The USDEBT community advocates for financial responsibility. It could market an evolution of fiscal culture with values such as accountability, foresight, and sustainability. All existing fiscal issues in the US can be addressed with good policies before the bill comes due.
What is the US National Debt?
The US National Debt is what the federal government owes for expenses incurred over time. Since its inception, the US has been in debt. Shortly after the American Revolutionary War, the national debt was $75 million, which was borrowed from the French Government and domestic investors to finance the war.
In each fiscal year, when spending on national programs exceeds the revenue collected, it leads to a budget deficit. The government then sells securities such as bills, notes, floating-rate notes, Treasury bonds, and Treasury inflation-protected securities to cover the deficit.
Since the federal government experiences a deficit each fiscal year, the national debt grows. It can be compared to using a credit card and failing to pay off the balance each month.
In the winter of 2020, the national debt stood at $23 trillion. However, it has since ballooned to over $33 trillion in less than three years as the government funded the economic recovery after the economic turmoil of the COVID pandemic. It currently stands at 122.8% of the US Nominal GDP as of June 2023.
Besides the debt, another important issue is the interest rates. Interest rate payments rose from around $475 billion in fiscal year 2022 to a projected $663 billion in fiscal year 2023, according to a Congressional Budget Office (CBO) report.
The report also projects that interest payments will be $1.4 trillion by 2033. CBO’s projection states that interest payments would amount to roughly $71 trillion in the next 30 years, taking up 35 percent of federal revenues by 2053.
Despite the current gloomy picture projected by the CBO report, there are solutions to the problem. This includes fixing the tax code, and fixing the inefficient healthcare system, which takes up around 20 percent of every dollar produced in the US.
$USDEBT Token Details
The total supply of the USDEBT token is 32 trillion tokens, minted on May 19, 2023, on the Ethereum blockchain. There was no presale, no tax, and no hype. USDET is designed to be a liquidity pool built by the people. The founders’ allocation was limited to 9% of the total supply. Upon minting, the founders renounced the smart contract.
$USDEBT Price Performance
The current price of USDEBT is $0.00000003015 as of November 2, 2023. It reached an all-time high of $0.0000001085 on August 27, 2023. The current price is a 70.34% discount off the All-Time High (ATH). USDEBT has a market cap of $869.6K, and a trading volume of $4,580.77, all of which is on Uniswap v2.
[Click Here To View The $USDEBT Chart On TradingView]
$USDEBT Is Raising Awareness on a Serious Issue
USDEBT is more than a meme coin; it is raising awareness of a major fiscal issue that could have a huge impact on the global economy.
As more people begin to grasp the scale of the issue, the project will gain traction and could become quite successful. If you are looking for a low-cap token with great potential, USDEBT is a great option.
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