Soaring US debt will ‘break’ markets at some point if spending isn’t reined in, Wharton professor warns

From Yahoo Finance:

Wharton finance professor Joao Gomes warned that the US debt could “break” markets if it continues to grow at the current pace. The debt-to-GDP ratio may double in the next 20 years, reaching an alarming $34 trillion. Public debt already accounts for 121% of GDP, and Bank of America analysts estimate it is growing by around $1 trillion every 100 days. Experts are concerned that rising debt could lead to a future crisis, with potential total interest payments of $10.6 trillion over the next decade. Billionaire investor Ray Dalio predicted a debt crisis that could hinder US growth.



Read more at Yahoo Finance: Soaring US debt will ‘break’ markets at some point if spending isn’t reined in, Wharton professor warns