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Boosted by jsonstein@masto.deoan.org ("Jeff Sonstein"):
devopscats@toot.cat wrote:
J.P. Morgan’s David Kelly warned this week that while America is “going broke” it’s doing so slowly enough that markets aren’t panicking yet. With U.S. national debt now topping $37.8 trillion and interest payments exceeding $1.2 trillion, Kelly said the debt-to-GDP ratio—already at 99.9%—will likely keep rising even under moderate growth. Despite tariff revenues and temporary deficit relief, he cautioned that political choices or a slowdown could quickly worsen the fiscal picture, urging investors to diversify away from U.S. assets before “going broke slowly” turns fast.
https://fortune.com/2025/10/14/america-going-broke-jpmorgan-david-kelly-debt-tariffs/