Budget Adds $1.5 tln to National Debt: Bitcoin Bubble?

The Senate Budget Committee of the United States has published its proposed budget for 2018 for approval in the primary organs of Congress. The proposal is accepted with the budget suggested by the House and has final approval before being sent to the White House.

The Senate bill contains provisions that will increase federal spending for this year, adding a $ 1.5 billion decrease in public debt over the next year. Committee members suggested that tax cuts would generate economic gains that would offset total debt issuance.

After 2019, the recommended budget would drive to reduce non-defense spending, leading to significant savings over the next decade. The purpose of the two proposals of the Senate and the House is to balance the budget at that time.

Unstable Bitcoin?

According to recent comments from Federal Reserve agents about trust in the government, the new budget seems more trustworthy than buildings. While the government is still able to print money and increase public debt (now about $ 19 million), Bitcoin is limited to a limited supply.

Several analysts have stressed that while Bitcoin continues to grow in applications and liquidity, the price per bitcoin will inevitably increase. Just as the Federal Reserve has spent money to maintain a debt ratio, Bitcoin's stability will increase the price, which will significantly ease the anxiety of an investor.