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© Reuters. US debt stuck in a vicious circle
Jonathan Owens, Portfolio Manager of TwentyFour Asset Management (Vontobel Group) analyzes the future of US debt
In recent weeks, everyone’s attention was focused on the possible default of the United States which would have been very worrying for global markets. Although the US default has been averted, there are several challenges that will arise in the future.
THE CURRENT US DEBT
US debt currently stands at $31.4 trillion (the current debt ceiling) or 119% of GDP. The new law will leave debt levels unchanged until 2025. Since 2008, the US has added 22 trillion in debt e 8 trillion dollars been achieved since 2020. This is an impressive figure and the consequent implications for the American economy cannot be ignored…
** This article was written by FinanciaLounge