Economist Peter Schiff warned of soaring consumer prices as the U.S. national debt approaches a staggering $40 trillion.
Schiff took to X on Thursday and stated that the national debt has surpassed $39.9 trillion, putting it less than $100 billion away from the $40 trillion milestone, which could be reached by the end of August or sooner.
He predicts that the Federal Reserve will ramp up the printing press to buy Treasuries, leading to a surge in consumer prices.
The national debt is above $39.9 trillion.
So there is less than $100 billion to go to hit $40 trillion, which will happen by month-end, if not sooner.
