This rising national debt has resulted in interest payments increasing from 7% to 16% of total federal spending, creating a significant financial burden on the government.

Gene Marks emphasizes that the primary concern regarding debt should focus on the escalating national debt, which has surged from $24 trillion to $36 trillion in just four years.

With limited options to manage these rising interest payments, the government faces challenges: cutting expenses is unlikely, tax increases are politically sensitive, leaving the option of printing more money as a potential solution.

However, printing more money could lead to an oversupply, which risks depreciating its value and exacerbating inflation.

Marks predicts that small businesses will endure a prolonged period of elevated inflation and interest rates due to these unsustainable national debt levels.

While consumer debt has risen, with reports indicating that approximately one-third of Americans hold more credit card debt than emergency savings, much of this debt is used for essential purposes.

This consumer debt supports necessary expenditures like education, home and car purchases, and bolsters consumer-driven industries.

Despite the increase in consumer debt, many Americans remain concerned about their financial situations, particularly regarding rising credit card and household debt.

In summary, Marks argues that the real debt issue lies with the government rather than consumers, as the U.S. navigates its complex financial landscape.