America’s US$40tr debt gamble is getting harder to ignore, economists say after ‘grow’ goal

scmp.com

With Washington claiming that the United States can “grow” out of its mounting fiscal burdens, some economists are sceptical that growth alone could absorb the country’s mountain of national debt, which just surpassed US$40 trillion. The milestone, reached last week, has amplified concerns about the long-term sustainability of maintaining such a massive debt pile – one that has doubled in size from a decade ago. Treasury Secretary Scott Bessent defended the trajectory last week, telling CNBC...