IMF Warns U.S. Debt Pile Unsustainable With Record Deficits, Rising Interest Rates

The US's $33 trillion debt pile is looking "unsustainable" with large deficits, according to the IMF.

The government has already racked up a $1.5 trillion deficit in just the first 11 months of 2023.

Under current policies, the US debt dynamics are "very unfavorable," the IMF warned.

With rising interest rates, borrowing costs on US debt could hit record highs by 2025 per Goldman Sachs.

Corporate debt defaults have spiked globally, with US high-yield bond defaults set to hit 4.5%-5% in 2022 per Fitch Ratings.