The U.S. Can't Pay Off Its Debt Anymore. So What Happens Now?

[Peterl]

Inflation and recession are the two deadly hydra-headed monsters that America is currently dealing with. The fact that consumers are accruing credit card debt is the worst aspect of this crisis. Credit card debt increased by 20% in April alone, and interest rates have doubled in just a single year. Because inflation is so severe, people are actually taking out loans to pay for necessities. Yes, the collapse has started.

[dannybuoy]

The Government has no intention or plan to balance the budget and repay the debt.

[foureveralone]

And this affects every other country across the globe. Thanks America!

[brotheramartey]

America is done, fallen! Economically, spiritually, socially, politically, morally and militarily!

[BarbaraMercer-tu]

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

[Dragon-mu]

USA has far too much money for war 😂😂😂

[austinbar]

The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

[nicolasbenson]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenbook. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[SantiagoVeraLoor]

The sad thing is that most of what the government spends doesn't go to the people and is unnecessary. If the government only spent money on the basics debt would be alot less and the people would be happier. The government doesn't know how to invest properly and is too curupt.

The interest the US pays is 25% of the government taxes. When it gets to 75% the government will leave the people to starve and survive alone while spending what money they have left on the military to keep control over the population

[horridohobbies]

The global demand for dollars is not guaranteed and not permanent. In fact, with each passing year, foreign reserve holdings and foreign trade in dollars are declining. It's a slow and gradual process...until it isn't. I imagine we'll be in for a rude shock within the next decade or so.

[Katrina-mxsf]

A TRILLION every 90 days ???? Thsts crazy.

[vikas-jx]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents.inflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[BrigetGstar]

The recession is here, where do investors look at for wealth gains now? mortgage rates still on th3 rise with higher imports and lower exp0rts, yet the Fed is to lessen cost. Something will eventually break if they keep raising interests and quantitative

[wwbren]

Even worse, it does not see the need to pay off its debts.

[shirleya.osgood]

Them govt folks don't care about the recessions or inflations of the country, it's you being adamant to the strategies of survival of the nation investments are the only way out of this treacherous economy Trade wisely not supermly 😶‍🌫️ They're no poverty insurances

[Mr-Kind-au]

They have nobody to blame but themselves.

[ThrowBackZone]

It's crazy how the US is like that friend who keeps borrowing money but never pays it back 💸. When will they learn?

[mthreezo]

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

[jeffreyeck]

The founding fathers are turning over in their graves !!!!

[JohnDoe-ivyu]

Just tell America to learn to code. America needs a second job. America needs to cut back on unnecessary purchases.

That's what America tells the consumer.