Posted 11/19/2023, 12:50:18 PM
Soaring U.S. Debt Above $33 Trillion Raises Alarm of 'Debt Death Spiral'
- U.S. national debt has surpassed $33 trillion, with spending accelerated by COVID crisis
- Legendary investor Ray Dalio warns swelling debt pile is reaching an "inflection point"
- Federal Reserve hiking interest rates fastest ever to curb runaway inflation
- Higher rates mean federal government paying more in interest costs on debt
- Some warn soaring U.S. debt could push Fed into "debt death spiral," collapsing dollar and fueling bitcoin