this post was submitted on 13 Sep 2024
11 points (92.3% liked)

United States | News & Politics

7211 readers
240 users here now

founded 4 years ago
MODERATORS
pangyuehung@lemmy.ml
yogthos@lemmy.ml
11
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
2 comments fedilink hide all child comments
top 2 comments
sorted by: hot top controversial new old
[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.