The debt of the United States (US) exceeded $36 trillion for the first time in history. XRP advocate Lawyer John Deaton states that three basic solutions are applicable to get rid of this debt problem. Deaton emphasizes that the US government is among the most indebted governments and that this trend needs to be changed.
DOGE
In his post on the X platform, John Deaton repeated that the US pays $6 billion in debt service daily. Deaton somehow believes there is a workable formula to get out of this situation.
First, he explained the role of the Department of Government Efficiency (DOGE). He stated that this new commission will be led by Donald Trump with Elon Musk and Vivek Ramaswamy. He stated that the commission will help cut government spending and reduce unnecessary spending.
“There is $36 trillion in debt and they are paying $3 billion a day in interest payments alone. There is a formula to get out of this mess.” –John Deaton
Deaton stated that beyond financial interventions, the duo will provide overall oversight of DOGE government agencies and aim to bring changes against waste caused by the Biden administration.
The Role of Cryptocurrencies in Economic Recovery
The cryptocurrency ecosystem has grown to $2.95 trillion. Many industry advocates believe this market is a resource that can help the U.S. economic recovery.
One of the important factors of Donald Trump’s victory in these elections was cryptocurrencies. Throughout the election campaign, the President-elect took a pro-crypto stance. The aim was explained throughout the election as creating a thriving regulatory environment for industry players to innovate.
Trump and his supporters, Bitcoin 
$89,143 It also supports creating strategic reserves. Under this plan, it is envisaged that the government will purchase 1 million BTC over the next five years, which could reduce the national debt by up to $16 trillion.
Deaton also emphasized the importance of keeping debt service manageable and stated that the country must find ways to increase its Gross Domestic Product (GDP).
Solutions proposed for the United States to get out of the debt crisis include controlling government spending, making interest payments sustainable and encouraging economic growth.
The contribution of cryptocurrencies to the economy is seen as important in terms of creating new job opportunities, increasing taxes and ensuring economic dynamism. It is claimed that if these steps are taken, they can contribute to alleviating the debt burden of the USA.
The steps the USA will take to solve the debt problem are critical to ensuring economic stability and achieving sustainable growth. In this process, the government is expected to control its expenditures and evaluate new economic opportunities.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
