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Giuliano Giacaglia
@giu
“America is going bankrupt extremely quickly” - Elon Musk
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Kiren Srinivasan
@kiren
Our debt to China and others has always been massive though for the past 20 years tho 🙃 US has too much cultural, technological, and financial significance to go bankrupt on a nation-state level
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Kiren Srinivasan
@kiren
Feel like a good evaluation of bankruptcy would be the state of US and Greece in 2008-2012
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llamafacts
@llamafacts.eth
While I agree that the stability of the US will make it hard to go bankrupt, it is true that debt is out of control. And it's not about the amount in dollars, a trillion or two. It's about the % of the GDP. Usually countries should aim for a 50% debt to gdp ratio. Us has a 120% ratio!!! Other countries cut spending at 75%. Increasing debt makes sense only if this ratio cools down, which has NOT been the case in the US in the last decades. So sooner or later the government must cut spending. The longer they delay it, the worse the outcome.
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