this post was submitted on 10 Jun 2024
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IMF warns US on ballooning fiscal burden (www.ft.com)
submitted 10 months ago by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml
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[–] knfrmity@lemmygrad.ml 12 points 10 months ago

The US debt is meaningless so long as the USD remains the global reserve currency. With the current trends of dedollarization that may not last for much longer.

It may be a splitting of hairs as well, but I would argue that domestic US financial policy vis a vis US workers has been austere for fifty years. Expenditures on private industry only grow, while any and all services for the services for the people are ruthlessly cut.