On top of the existing $34 trillion debt, $8.9 trillion of government debt will mature over the next year. This year's deficit from Biden is estimated to be $1.4 trillion. They need around $10 trillion in additional debt to fund the maturing debt and the fiscal deficit. How did we get here? Gradually, then suddenly. The $8.9 trillion debt is mostly from the Trump era where short-medium term bonds were issued without longer term bonds. All this money is ending up in the real estate and stock market based on speculation without actual progress in infrastructure or manufacturing. The fundamental problem here is the lack of a top-down approach from the government & the lack of an intelligent leader. Other than issuing 100-year bonds, is there any other way? Fortunately, the US is technologically strong in software & semiconductors. China is leading/on par in every other industry. What happens when China has its equivalent of ASML, Applied Materials & KLA?
debt increase does not mean net worth decrease
China has excelled in electronics, but not heavy machinery. But issue is deficit, not China
Sale of heavy machinery can't be banned as it will have a domino effect on the entire world. Rising China is problematic for US dominance.
China itself is not an issue. But their alliance with other powers is the threat. We need to bring more powers as our allies.
lol China is a joke 😂 India will be taking over USA. Better government better population, and we already have politicians and CEOs controlling the world
Yeees . Was waiting for your comment Rajesh
USA + Angrez will bomb us before that happens.
As long as you don’t have kids, it’s all good. It’s their problem man. I’ll be dead when USA becomes Rome. But yes, eventually debt trap will stagnate the country just like with all empires. Not my problem.
China is imploding, unemployment ath.
Yes, it’s terrible, stay in your home country.
With the politicians US have it would decline more
Wtf Where did China come from? They're a complete mess
CCP spotted
my debt is also increasing but i am also getting richer lol
What OP is saying is similar to what you’re saying. Debt enforced GDP growth. Real problem is when your mortgage is 8%, your stocks are dropping 10% and suddenly you’re laid off (I.e recession). That’s the scenario most empires fall into when they collapse. Higher debt, spare income all servicing this debt, vicious cycle. luckily that moment is probably well into the future so it’s not our problem.
i have so many issues to deal with usa debt rising is not my problem right now to deal with