US government debt biggest threat to global economy – Russian NGO — RT Business News
US government debt and Washington’s budget deficit present the biggest threats to the global economy this year, Russian government agency Roscongress has warned.
Washington’s $34 trillion burden is mathematically impossible to pay off, Roscongress has claimed in a report it published on Wednesday. …
The US government cannot solve the problem by restarting the printing press this year because that would lead to higher inflation, the report added. …
US government federal debt toped $34 trillion for the first time in history at the end of December. It now amounts to about $102,000 for every man, woman, and child in the country. US total public debt is roughly equivalent to the economies of China, Germany, Japan, India, and the UK combined …