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IPFS News Link • General Opinion

The Debt, the Budget, the Riots -- the Triple Threat to the U.S.

• https://tomluongo.me by Tom Luongo

Specifically, they wanted my opinions on how out of control spending feeds back into the debt, the confidence of the dollar and to what extent the political unrest is playing.

This is a complicated set of circumstances and it's my goal with these opportunities to be as broad-minded as possible given where things stand.

Sputnik: The United States' national debt has exceeded $26 trillion for the first time in American history, Treasury data revealed. What does this number tell us about the current state of the US economy? What will be the ramifications of this, if any?

Tom Luongo: The U.S. economy is in terrible shape thanks to unfolding global financial crisis as well as the catalyst of the COVID-19 response. Locking down the economy only intensified a crisis that was already unfolding, making it far worse than it should have been.


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