this post was submitted on 13 Sep 2024
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United States | News & Politics

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Interest payments on the national debt top $1 trillion as deficit swells (www.cnbc.com)
submitted 2 months ago by yogthos@lemmy.ml to c/usa@lemmy.ml
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[โ€“] lazynooblet@lazysoci.al 2 points 2 months ago* (last edited 2 months ago) (1 children)

The figures in the article are staggering. Is the US on the road to bankruptcy?

[โ€“] yogthos@lemmy.ml 2 points 2 months ago

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.