US Federal Reserve admits impossibility of further borrowing
The US Federal Reserve has admitted that the situation with the national debt has gotten out of control.
The department sounded the alarm and stated that things could not continue like this.
As RIA Novosti reports in its article, the US national debt has reached a record high of 35 trillion dollars. And this figure is adding another 1 trillion every 100 days.
At the same time, experts do not see a way out of the current situation: budget expenditures and its deficit must be covered somehow, and therefore the national debt will continue to grow.
However, servicing the existing debt alone takes up about 2% of the country's GDP.
The path we are on is unacceptable, says Federal Reserve Chairman Jerome Powell, commenting on the current situation.
However, no options were offered on how to do this.
It is noted that due to the growing national debt, the US has already lost its highest credit rating. And if the disruption of financial stability continues, this will inevitably affect the dollar and the stability of the world economy, which still depends on it.
Earlier it was reported that Musk predicted a sad fate for the dollar due to the US government debt.
