FEDERAL DEBT. I have been tracking the federal debt disaster around the Globe for about 15 years now. Other than Japan, Greece, Argentina and a few other poorly managed countries, The United States is on track to be the worst of them all by 2035. You certainly don't have to take my word for it, but if you would like to do a little homework of your own (this is obviously not addressed to the Gen Z and Millennial generations as they don't really "do" homework these days) here is a place to start. The Peter G. Peterson Foundation has been tracking all of this longer than I have and has a very good report that you should look at.
ENTITLEMENT PROGRAMS. Once you get through that and you understand what 195% Debt / GDP really means and you get that the interest on the federal debt is going to be the largest expense in the federal budget just under Medicare and Social Security in a short 15 years, then you can go to the USABANKRUPT 2.0 class reading list and pull up the Medicare Trustee Report for 2022 that shows that if we wanted to run the three trust funds of Medicare and the one trust fund of Social Security sustainably paying out what we promised all the Baby Boomers (That's you guys by the way) we would need a present value of $75.9 TRILLION dollars today to make those programs solvent. Page 209 of the below report [which is on page 215 of the pdf document] makes this statement "the present value of the additional resources that would be necessary to meet projected expenditures, for the three programs combined, is $75.9 trillion"
BABY BOOMER SELLING BOOM. Not that I want to inundate you with homework, but when you put all of these economic indicators and reports together, what you have is a country that is going to collide with a fiscal tsunami of proportions this world has never seen. If you own a business, and you are a Baby Boomer, and your cash reserves and strategic planning does not take into account these factors, you should read the below article that was published in 2019 [Before the Pandemic] and if you DIDN'T sell your business back then...We Should Talk!