This video discusses the sharp rise in US public debt since 2000, causing global concern about potential bankruptcy and financial market disruption. The debt increase began after a budget surplus and was exacerbated by military spending and economic crises. The impact depends on the debt-to-GDP ratio and the US government's ability to issue debt in its own currency, which mitigates default risk. While the US has managed high debt levels before, the unprecedented debt levels remain a global concern, especially for foreign investors and countries with significant US bond holdings.
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