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national debtAsia Times
•65% Informative
Congressional Budget Office says U.S. debt will hit 122% of GDP by 2034 , dwarfing America ’s fiscal position after World War II .
Economic disaster could be sped up by political squabbling or by de-dollarization efforts among emerging markets.
Biden has intensified Washington 's sharp mercantilist pivot since 2017 , including tariffs on China -made electric vehicles.
CBO admits the share of GDP going toward interest payments on the federal debt will increase to twice the amount Washington spends on national security by 2041 .
Gerontocratic leadership was one of the hallmarks of late Soviet leadership, personified by the senility of Leonid Brezhnev , Yuri Andropov and Konstantin Chernenko .
Former Treasury Secretary Robert Rubin warns that fiscal challenges are materializing.
Rubin worries that the three -percentage-points surge in longer-term US yields is just the beginning.
Sadly, the political climate on Capitol Hill leaves little reason for hope lawmakers can head off catastrophe.
Rubin cautions that when markets are “out of sync with reality,” things “correct savagely”.
VR Score
72
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72
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30
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