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Is This The End Of The US Dollar Dominance? - A Chat About U.S. National Debt
Manage episode 387919564 series 3534517
Because the U.S. has been running on a deficit (less tax revenue than the total spending) for the last few decades (with a few exceptions), we have a debt problem. The U.S. national debt hit $31.51 trillion as of Jan. 26. 2023. Our current debt ceiling is $31.4 trillion. What happens then? Nathaniel and Tim discussed how Congress can increase the debt ceiling (once again), how the dollar being a global reserve currency plays an important role in our national debt issue, and what happens if the country defaults on its debt. Overall, the odds of default are unlikely now. But for the long term, it's definitely something that we should keep a pulse on, for the consenquences will be catastrophic.
171 episodes
Manage episode 387919564 series 3534517
Because the U.S. has been running on a deficit (less tax revenue than the total spending) for the last few decades (with a few exceptions), we have a debt problem. The U.S. national debt hit $31.51 trillion as of Jan. 26. 2023. Our current debt ceiling is $31.4 trillion. What happens then? Nathaniel and Tim discussed how Congress can increase the debt ceiling (once again), how the dollar being a global reserve currency plays an important role in our national debt issue, and what happens if the country defaults on its debt. Overall, the odds of default are unlikely now. But for the long term, it's definitely something that we should keep a pulse on, for the consenquences will be catastrophic.
171 episodes
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