UNITED STATES (OBSERVATORY) – Washington should pay more attention to the problem of public debt, according to the National Interest.
According to the publication, the US is approaching the brink of technical default, as the percentage burden reaches 1.6% of GDP.
It is expected that by 2022 the figure will grow to 2.7% – which is equivalent to about 16% of federal income. The publication notes that this scenario is quite optimistic.
Considered and the option, which will have to repay the debt every fifth dollar.
To save social costs, the publication suggests ignoring the deficit and debt. At the same time, the deficit growth from 2019 to 2023 may reach 30%.
The magazine predicts that US authorities will resort to debt restructuring, using the help of Japanese and Chinese creditors.