The hidden risk of soaring US debt

According to the latest figures released by the US Treasury Department on 29 July, the debt of the US federal government exceeded $35 trillion. According to the calculations of the American Foundation Peter G. Peterson Foundation, this debt per capita amounts to almost $104 000 per person.

Many economists point to the government's reliance on borrowing due to the hegemony of the dollar and the persistent US economic stagnation as the main reasons for the sharp rise in federal debt. Instead of actively addressing the debt problem, both political parties are using it as a tool for political warfare. Economists fear that this long-term unsustainable debt growth poses a risk to the US and global economy.

(Yawen)

CMG