America headed for bankruptcy: Debt-to-GDP ratio crosses 200%, every citizen now has a debt of over $100,000
- Posted on November 26, 2024
- By Business News Today
- 3 Views
America headed for bankruptcy: Debt-to-GDP ratio crosses 200%, every citizen now has a debt of over $100,000
As Donald Trump returns for a second term, the US faces a debt crisis with national debt reaching $36 trillion. The growing burden threatens the economy, with experts predicting a 200% debt-to-GDP ratio in the coming years. Trumps plan to cut government spending, led by Elon Musk and Vivek Ramaswamy, could face challenges due to rising interest rates and growing debt servicing costs, impacting both domestic policies and the nations economic future.