<\/p>\n
A former International Monetary Fund (IMF) chief economist is sounding the alarm about the US government\u2019s insatiable thirst for debt.<\/p>\n
New data from the U.S. Treasury Department shows<\/a> that the national debt rose from $34.155 trillion on February 1st to $34.368 trillion on February 23rd.<\/p>\n That\u2019s an increase of over $213.182 billion in about three weeks.<\/p>\n The country\u2019s swelling national debt has caught the attention of ex-IMF chief economist Olivier Blanchard.<\/p>\n In a video conference call with members of the UK\u2019s House of Lords Economic Affairs Committee, Blanchard reportedly says<\/a> he\u2019s concerned about the US government\u2019s growing primary deficits or the total deficit this year minus interest payments.<\/p>\n \u201cIn the US, I\u2019m very worried because the primary deficits are very large and there\u2019s absolutely no attempt to decrease them in any way, shape or form.\u201d<\/em><\/p>\n According to Blanchard, the record-level debt of the United States could be the catalyst that triggers the next global financial crisis.<\/p>\n \u201cI don\u2019t see a big crisis coming, again except for the US where at some point it will happen, whether it\u2019s in five years, 10 years I do not know.\u00a0<\/em><\/p>\n As we know, if they struggle in the US, then this has implications for the rest of the world.\u201d\u00a0<\/em><\/p>\n Blanchard is not the only one who thinks a big crisis is coming for the United States.<\/p>\n In November, former Congressman Ron Paul called<\/a> the attention of US lawmakers to address the government\u2019s ballooning debt burden.<\/p>\n \u201cWe are more than 33 trillion dollars in debt, with interest payments on that debt dwarfing all other government spending. A crash is coming. There is no time for more \u2018business as usual.\u2019\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A former International Monetary Fund (IMF) chief economist is sounding the alarm about the US government\u2019s insatiable thirst for debt. New data from the U.S. Treasury Department shows that the national debt rose from $34.155 trillion on February 1st to $34.368 trillion on February 23rd. That\u2019s an increase of over $213.182 billion in about three […]<\/p>\n","protected":false},"author":2,"featured_media":256759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-256758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/256758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=256758"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/256758\/revisions"}],"predecessor-version":[{"id":256761,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/256758\/revisions\/256761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/256759"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=256758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=256758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=256758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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