Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Debt Trap: America's Path From Superpower To Debtor State

The Debt Trap: America's Path From Superpower To Debtor State

Gew Intelligence Unit
Karoui, Hichem

Paperback

Series: Essays

Business GeneralInvesting & Finance

ISBN10: 1787952983
ISBN13: 9781787952980
Publisher: Global East-West (London)
Published: Mar 21 2025
Pages: 186
Weight: 0.49
Height: 0.43 Width: 5.50 Depth: 8.50
Language: English
The United States is drowning in a sea of red ink. With a national debt surpassing $33 trillion-a figure larger than the entire economies of China and Japan combined-the world's largest economy faces a reckoning decades in the making.

In examining how America reached this worrying point, [The Debt Trap] analyses the origins of the country's debt crisis, beginning with the tax cuts proposed during the Reagan years, the wars fought post-9/11, the financial bailouts of 2008, and the COVID-19 stimulus packages. Both parties of the government are at fault: Republicans for supporting expensive tax cuts and Democrats for adding unfunded benefits. Consequently, the US faces a debt-to-GDP ratio of over 120%, with interest payments surpassing defence spending. At the same time, a time bomb is set to go off for future generations. There are no clear-cut solutions in today's polarised world. Economists highlight the risk of inflation, currency depreciation, or spiralling debt, warning of the perilous debt situation. At the same time, legislators focus on winning public favour in the short term instead of working towards long-term stability.

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