From fortune.com:

The U.S. economy is resting atop a public debt exceeding $34 trillion, with a debt-to-GDP ratio of around 120%. Jamie Dimon says Washington is facing a global market “rebellion” because of the tab it is racking up, while Bank of America CEO Brian Moynihan believes it’s time to stop admiring the problem. The public’s top concern is “reducing government debt,” according to Pew Research. Black Swan author Nassim Taleb says the economy is in a “death spiral”, while Fed chairman Jerome Powell says it’s past time to have an “adult conversation” about fiscal responsibility.

America’s national debt sits at $34 trillion. The debt has resulted in a debt-to-GDP ratio of 120%. The public’s top concern is “reducing government debt,” according to Pew Research. Jamie Dimon says Washington is facing a global market “rebellion” because of the tab it is racking up, while Bank of America CEO Brian Moynihan believes it’s time to stop admiring the problem. The issue has not yet been a priority for the political agenda.

A New York-based foundation believes debt could lead to reduced public spending, private investors losing faith in America’s economy, a shrinking window of prosperity for U.S. families, and a threat to national security. Meanwhile, Professor Laura Veldkamp has a less catastrophic view, stating that the U.S. government’s debt payments are less than one-third of its income.

Dealing with public debt is a long-held concern of experts in national security, with former Speaker Ryan saying that the government will be spending more on servicing its debt than it is on investing in the Pentagon. Rising rates are bad news for the already unattainable housing market. At present, homeowners independence on historically low rates. However, interest rates will soon rise so high, that coming generations will be unable to qualify to buy a home.

America’s ability to pay its debts is a concern for the nations around the world that own a $7.6 trillion chunk of the funds. Nations most exposed are Japan, China, the U.K., Luxembourg and Canada.

The national debt continues to be a pressing concern for politicians, economists, and experts in national security. The U.S. debt currently sits at $34 trillion, triggering concerns over national security, the housing market, and the ability of the government to pay its debts to other nations.

The national debt continues to be a pressing concern for politicians, economists, and experts in national security. The U.S. debt currently sits at $34 trillion, and it has triggered concerns over national security, the housing market, and the ability of the government to pay its debts to other nations. It also becomes a threat to the country’s prosperity.



Read more: Jamie Dimon, Brian Moynihan and Jerome Powell are worrying about national debt, should you?