SkyBridge Capital founder Anthony Scaramucci agreed with Peter Schiff’s concerns on Tuesday about soaring U.S. debt and inflation, but favored Bitcoin (CRYPTO: BTC) over gold as the solution.
Scaramucci Concerned Over US Financing Needs
Scaramucci took to X to break down Schiff’s blog post on America’s fiscal outlook, highlighting elevated deficits and interest burdens.
Scaramucci said Schiff’s annualized government borrowing figures are overstated, though the real number—$2.5 trillion, by his count—is “still enormous outside a recession.”
The national debt has soared to $39.89 trillion, while the deficit has swelled to $1.366 trillion as of this writing. The U.S. debt-to-GDP ratio was about 31% in 1980. Today it is roughly 120%.
Agreement on Problems, but Not Solution
Scaramucci then dissected Schiff’s conclusion that there is “no way out of this situation except through inflation,” and that whoever runs the Fed will keep the presses rolling.
