Bunch of scaremongering. The US GDP is about $22t. The debt is only $29t. As Rush used to say, it’s a bit like a family owning a home at a bit more than their income. Not that big of a deal yet.
I’ve heard this talk all my life, and I go with Rush.
There is a lot of excellent analysis online about what happens when national debt starts to exceed 100% of GDP.
The best analogy I can give is the event horizon around a black hole—almost impossible to get out of...probable doom.
The world reserve currency status has given us a little breathing room—just a little...
“The debt is only $29t. ... Not that big of a deal yet.”
Some recent NOOBs seem to be skating close to troll ice.
Bears watching.