LOL, this has been the line for 30 years (since the 90s inflationary period). If you call for the fall of Rome every day for 600 years you'll eventually be right.
Current debt is completely fine. 1.3x your income is not that high actually. A couple with a new mortgage can be at like 600% of their income in debt and still not even be sub-prime, if they have a good job (the USA is like the guy with the best job of all, normally)
It WON'T be if we print trillions and trillions of dollars instead of just repealing stupid tariffs etc. and no longer "have a good job" anymroe in a depression, etc. But as of November 2024 under normal procedures and business as usual, it was not a meaningful threat at all.
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u/Krisevol 20h ago
Every world power that has fallen, did so because they kicked the can. Every one of them.
Our choice now or raise rates to 10+% and pay back the debt... Or crumble like the rest.