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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

Fortune Crypto|Nick Lichtenberg|
America’s never had such high national debt heading into an economic shock. We need a ‘break glass’ plan, think tank warns
Image via Fortune Crypto
🤖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.
Read Original →via Fortune Crypto
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