Soaring US Debt Threatens Economy as High Interest Costs and Slower Growth Create Vicious Cycle
- US debt has the economy in a 'noose' due to high interest rates and slower economic growth
- Rapid government spending is adding to the debt burden
- Growing interest costs on the debt are nearing $1 trillion
- Rising debt could weaken the dollar and drive investors out of the US
- The ratio of US debt-to-GDP makes Europe look relatively more attractive than the US