China is giving up on American debt as is India. Now even Europe is talking about it
We have tens of trillions in debt. Our debts level is going well past the size of our economy. The bills are coming due and are getting beyond our ability to pay.
How did this happen? Primarily, and you can fact check this, they cut taxes under Reagan and Bush jr and trump and gave the money to ruch people.... they borrowed money to give to the rich. They borrowed against our kids to fund tax breaks for the rich.
Some conservatives say its the dems spending problem. The things is do u give your spend addict wife a credit card? Of course not. Plus we spend way less on our government and social services than the rest of the developed world. The real culprits are that our heathcare and military are so bloated. Even tho every other country has universal healrhcare that costs half as much per capita than us and with usually better wait times to see a doctor
As always this is and always has been mostly a republican caused problem.
The grenade was always gonna go off it was just a matter of which generation it happened to.