During a conversation at CNBC’s Delivering Alpha conference, a prominent billionaire investor stated that the U.S. is in a debt crisis.
According to UsDebtClock.org, the nation’s total debt exceeds $30.9 trillion. This represents 124.9% America’s gross domestic products (GDP). The United States has $171 trillion in unfunded Medicare and Social Security liabilities.
Joe Biden has criticized Rick Scott for suggesting that senior pay should not be raised. Druckenmiller stated that rates of 3.8% represent a reverse. Based on the discussions I had with the CBO, this is my opinion. Based on everything we discussed, I think this is optimistic. The high interest costs of the debt are limiting our ability to service the next generation. I’m not sure if the current one is.
The U.S. government has a deep debt. Although it may not be obvious to calculate the country’s fiscal situation in trillions of US dollars or percentage points GDP, the Committee for a Responsible Federal Budget said that the continuation of the current trend in a 2019 report will have serious consequences.
Nouriel Roubini, “Dr. Doom,” and other experts predict a prolonged recession in the United States.