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by bhouston
143 days ago
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To be fair, the US has been growing its federal debt my whole life. It is one of those things that seems unsustainable but then it continues. Of course, it is sustainable because of US dollar dominance in the world and that may be faltering with Trump, especially if the Federal Reserve loses its independence. |
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I really do wonder what's going to end up happening with the debt...I think we've crossed the point of no return, but I'm not sure. Interest on the debt now exceeds military spending, and US military spending is about 40% of all NATO defense spending.
I've thought about this since I was young, and was fascinated that no one thought it was going to become a problem. There was a nice moment in the late 90s where the US reduced debt, but that was a blip.