I saw this today:
“The United States federal debt is forecasted to grow to a record 202% of the gross domestic product by 2051, the Congressional Budget Office reported on Thursday, reflecting healthcare and debt services cost growth. The national debt for 2021 is estimated at 102%.”
So I’m curious, if the U.S. is in so much dept (I think a lot of countries are?) How doesn’t it run out of money?
In: Economics
The whole world is invested in the USA. If it goes bankrupt, the whole world sees a truly titanic amount of wealth go “poof” and disappear. The USA is to the world what big banks were to the USA during the last financial crisis. Literally “to big to (be allowed to) fail”.
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