Posted 3/3/2024, 9:01:48 PM
Expert Warns America's Ballooning Debt Trajectory Risks Economic Crisis
- America's $34 trillion debt could trigger economic crisis in 2025 if expensive policies pursued
- Wharton Professor Joao Gomes warns debt level marks "moment in history" that could "derail next administration"
- Current debt-to-GDP trajectory predicted to reach 190% by 2050
- Recent administrations oversaw largest deficit increases since Great Depression
- Interest payments on debt projected to eclipse defense spending in 2024
