Interest payments on the national debt top $1 trillion as deficit swells
Interest payments on the national debt top $1 trillion as deficit swells
www.cnbc.com Interest payments on the national debt top $1 trillion as deficit swells
The August shortfall popped by $380 billion, a dramatic reversal from the $89 billion surplus for the same month a year prior.
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The figures in the article are staggering. Is the US on the road to bankruptcy?
I think it is, but the key reason is that dollar based global economy is now shrinking. The US could issue as much currency as it wanted as long as the dollar was the global reserve, that now changing with trade increasingly happening outside the dollar.