U.S. National Debt Tops $34 Trillion, Sparking Economic Stability Fears

U.S. debt has surpassed $34 trillion and exceeds GDP, alarming experts like Jamie Dimon who call it a "predictable crisis" that threatens economic stability.

Consequences could include reduced public spending, investors losing faith in the U.S. economy, a weakened housing market, and even impacts to national security.

While some experts argue high debt levels alone aren't necessarily catastrophic, the key question is whether debt is funding productive investments to grow the economy.

Rising interest rates to finance debt could make home ownership unattainable for more Americans and hurt interest-rate sensitive sectors.

At some point, foreign investors critical to financing U.S. debt may stop buying if they lose confidence in repayment, forcing sharp cuts to government programs.