The US financial obligation simply hit $31 TRILLION. The highest degree of all-time. With data from the Congressional Budget Office approximate it might strike $47 TRILLION in 10 years.
Will the United States be able to pay the rate of interest on this significant financial debt? Or will we skip?
Well, unless Congress and Joe Biden consent to boost the financial obligation ceiling, then a default will certainly impend.
Nevertheless, many times they eventually do boost the financial debt ceiling and we prevent default. Which has me concerned.
Since that just leads the way for the federal government to obtain much more financial debt. Which can ultimately have unfavorable repercussions in the form of greater inflation, rate of interest, and the US shedding its book money status if count on the dollar drops.
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