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📰 General🔴 BearishImportance 7/10
America’s never had such high national debt heading into an economic shock. We need a ‘break glass’ plan, think tank warns
🤖AI Summary
The U.S. national debt has reached 100% of GDP for the first time since World War II. A fiscal watchdog is urging Congress to prepare a 'Break Glass Plan' to address potential economic crises given this unprecedented debt level.
Key Takeaways
- →U.S. national debt has reached 100% of GDP, matching levels last seen during WWII.
- →A leading fiscal watchdog is warning about the risks of entering an economic shock with such high debt levels.
- →Congress is being urged to develop a 'Break Glass Plan' as a contingency measure for future crises.
- →This represents an unprecedented fiscal situation for America heading into potential economic turbulence.
- →The timing raises concerns about the government's ability to respond effectively to future economic emergencies.
#national-debt#fiscal-policy#economic-crisis#gdp#congress#government-spending#macro-economics#debt-ceiling
Read Original →via Fortune Crypto
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