The United States isn't the only region facing severe debt these days.
Many have been warning about this problem for years and suggesting that eventually things could get ugly as a result of that mounting debt.
However, others suggest that the debt really isn't an issue and they can just keep raising the debt ceiling forever...
Debt levels are tens of trillions and yet we still see the same bankrupting foreign policy engaged in and billions sent overseas without public approval, meanwhile infrastructure and basic services and quality of life suffer at home and deteriorate.
Politicians are great at spending other people's money and they will keep on doing it on one endeavor or another. What else would they busy themselves with?
What will 20 or 30 more years of the same spending habits look like if that debt is left to grow unchecked?
Does it matter how much debt there is?
There is always the same repeated drama too over a potential shutdown, maybe this works to promote fear and push more people into supporting the move to continue spending?
The topic of growing debt is one that prompts a variety of responses, some who have been warning for years that this compounding debt problem will eventually hit the fan and the fallout isn't going to be a desirable one.
Regardless of the warnings though and various finance experts who have one opinion or another it is clear that we can expect more of the same and no significant turnaround to come anytime soon. Why would it? That would require cutting back severely on spending habits and that isn't a move any politician spends time focusing on.
This is not financial advice.
Sources:
https://www.cnbc.com/2023/09/28/ray-dalio-says-the-us-is-going-to-have-a-debt-crisis.html
https://www.cnbc.com/2023/09/19/united-states-national-debt-tops-33-trillion-for-first-time.html#:~:text=The%20debt%2C%20which%20equals%20the,%2433%20trillion%2C%20the%20department%20said.
https://www.theguardian.com/business/2023/may/16/what-is-debt-ceiling-limit-explainer