US debt crisis looms
The country’s already vast debt pile is set to keep on climbing, far beyond any previously recorded level.
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The country’s already vast debt pile is set to keep on climbing, far beyond any previously recorded level.
The world can breathe a sigh of relief as a bill to increase the US debt ceiling – and avert global financial catastrophe – heads to President Joe Biden’s desk to be signed into law.
The middle may be shrinking, but it still exists, and it is critical in a closely divided Congress.
The financial crisis and the pandemic have lifted the ratio of US public debt to GDP from about 40% in 2007 to just under 100%.
If Republicans allow America to default on its debts, the calamity would fall most heavily on the President – and the Senate Minority Leader knows it.
A consensus has formed around the idea that Donald Trump will most likely win re-election as President in 2020. It is almost a tradition that
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