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ZH: CBO Director Warns Of Debt Market Meltdown With US Debt Is On "Unprecedented" Trajectory (archive.md)

submitted 7 months ago by [email protected] to c/[email protected]

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"the director of the Congressional Budget Office, Phillip Swagel, issued a stark warning that the United States could suffer a similar market crisis as seen in the United Kingdom 18 months ago, during former Prime Minister Liz Truss’s brief stint leading Britain - which briefly sent yields soaring, sparked a run on the pound, led to an immediate restart of QE by the Bank of England and a bailout of various pension funds, not to mention the almost instant resignation of Truss - citing the nation’s "unprecedented" fiscal trajectory. "

Severe austerity is inevitable in USA, regardless of whether the Democrats win the next election. Soc-dem is hopium and economic conditions in USA will worsen.

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[–] [email protected] 3 points 7 months ago

You don't need to "print money" to solve this problem. Just managing the economy more rationally would suffice. There are a lot of tools that the US government could use to solve the debt problem, it just chooses not to.