Destabilizing debt ensures the crisis has just begun
The debt-disabled U.S. economy cannot withstand the surge in borrowing costs, and the reduction in money supply growth necessary to combat the record-high inflation suffered over the past few years.
She also said the"U.S. economy is obviously performing exceptionally well. I believe our banking system remains strong and resilient; it has solid capital and liquidity. So, I'm not anticipating a downturn in the economy, although of course that remains a risk." This proves she is more a feckless politician and hopeless carnival barker for the economy than a good steward of our nation's public debt.
Compared to the situation today; during the years 2020-2022, Total U.S. debt jumped by 26%; or by $14.4T, while nominal debt soared from $54.5T to $ 68.9 T. And Total Non-financial debt as a percent of GDP is now at a greater 263%.
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