Something bad is going to happen and it’s not a question of if it will happen but when.

The U.S. national debt set a new record – just over $30,000,000,000.00 ($30 trillion) – and that doesn’t include unfunded entitlements and future obligations. Economists who factor in all the true debt say it ranges from $60,000,000,000,000.00 to $123,000,000,000,000.00 ($60 trillion to $123 trillion).

What is Joe Biden’s reaction to this debt? His “Build Back Better” initiative would add $1,750,000,000,000.00 ($1.75 trillion) to the skyrocketing debt.

And thanks to Biden’s tax-and-spend policies, inflation in America is at a 40-year high. The consumer price index rose 7.5% higher in January of 2022 than in January of 2021.

Biden is responsible for a supply-chain crisis, forcing Americans to deal with shortages of certain foods and other goods.

The last time American small businesses increased prices this much was in 1974.

American average wages are up but they are not keeping pace with inflation. Real average hourly earnings rose just 0.1% in December, as the 0.5% inflation increase eroded the 0.6% total wage gain, according to the Labor Department. On an annual basis, real earnings actually declined 2.4%.

What will this mean in the future?

At some point, there has to be a correction because of government debt. Historically low interest rates and mortgage rates will rise. Home ownership will decline. Fewer young people will be able to purchase a home.

And perhaps worst of all, China will get a boost in its goal of making the yen the top currency in the world. That would be disastrous America and our allies.

The answer is for Congress to override Biden and stop the irresponsible spending. It’s not too late but it could be soon.