Can the US manage its escalating debt without triggering a fiscal crisis?
The American public debt is at the highest levels ever and is expected to progressively increase due to huge budget deficits that surpass the country's economic growth, generating fears of a potential fiscal crisis in the world's leading economy. The US national debt has soared to a staggering $34.5 trillion (€32.3 trillion), nearly three times that of the entire eurozone, accounting for 122% of its gross domestic product (GDP) versus the eurozone's 87%. According to the latest International Monetary Fund (IMF)'s Fiscal Monitor report, this figure is projected to rise to 134% by 2029, indicati...