☆ Yσɠƚԋσʂ ☆@lemmy.mlM to United States | News & Politics@lemmy.mlEnglish · 9 months ago

Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: 'It could derail the next administration'

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Hotshot Wharton professor sees $34 trillion debt triggering 2025 meltdown as mortgage rates spike above 7%: 'It could derail the next administration'

☆ Yσɠƚԋσʂ ☆@lemmy.mlM to United States | News & Politics@lemmy.mlEnglish · 9 months ago

"It's bad across the board for the country but it's hard to avoid exposure wherever you live in the world," Joao Gomes tells Fortune.

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☆ Yσɠƚԋσʂ ☆@lemmy.mlOPM
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9 months ago
They don’t run out of money, but they do increase yearly debt payments reducing the overall operating budget for the government.