Influential economist Peter Schiff reshared a post by pseudonymous X user DogeDesigner about the escalating national debt crisis in the U.S.
What Happened: A popular member of the cryptocurrency fraternity who also works as a graphic designer in the Dogecoin DOGE ecosystem, DogeDesigner pointed out that the interest on U.S. debt has crossed $1 trillion for the first time, citing a report by the Treasury Department.
He added that interest payments on debt have reached a staggering $1.05 trillion in the first 11 months of the fiscal year, marking a 30% increase from the previous year.
“Remember, government overspending is the real cause of inflation,” DogeDesigner argued.
