Rising debt and deficits raising worry among investors and policymakers
Federal U.S. debt has swelled to $34.5 trillion, up about $11 trillion from March 2020, raising concern in Washington and Wall Street.
“We’re running big structural deficits, and we’re going to have to deal with this sooner or later, and sooner is a lot more attractive than later,” Fed Chair Jerome Powell said in remarks Tuesday to an audience of bankers in Amsterdam.
JPMorgan Chase CEO Jamie Dimon also chimed in on the subject last week, noting: “America should be quite aware that we have got to focus on our fiscal deficit issues a little bit more, and that is important for the world.”
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EZ_money : pretty soon the interest rate payments alone will become higher than the GDP at this rate because they are doing nothing to fix it and just keep raising debt ceiling kicking the can down the road destroying future generations lives. just a matter of time before default on the debt happens