2024-01-28 20:53:00
01/28/2024 at 23:53 (Doha time)
James Dimon, General Manager of the American bank JPMorgan Chase, said that the United States is heading towards the abyss due to the rise in sovereign debt.
Damon added, in statements reported by Fox News: It is the abyss. We see the existence of the abyss. It’s still regarding ten years away, and we’re moving toward it at 60 miles per hour.
This comes following US Treasury Secretary Janet Yellen described, last Thursday, the size of the foreign debt owed by her country, amounting to $34 trillion, as “frightening.”
According to experts interviewed by RIA Novosti, servicing such a huge national debt might cost Washington regarding a third of budget revenues.
It is noteworthy that the size of the US federal government’s debt at the end of January 2022 was slightly more than $30 trillion, and then it took eight months for this indicator to increase by another trillion dollars.
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