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The US has over $35.8 trillion in debt. This is an insane number, and it’s a number that’s only going up. As a… not-so-fun bonus fact, the world has roughly $72.7 trillion in debt, meaning that the US alone accounts for almost half of the global debt level. Crazy stuff.
Naturally, this raises a few questions. Can the US repay its debt? More importantly, what happens if it can’t repay its debt, and goes into default? The answers to these questions are about as scary as you’d imagine. A US government debt default would not only cripple the US economy, but it would also send shockwaves around the entire global economy.
TIMESTAMPS
0:00 Introduction to U.S. Debt Crisis
0:37 Debt Default Explained: What It Really Means
3:34 Global Impact: What Happens if the U.S. Defaults on Debt?
7:07 Rising Concerns Over U.S. National Debt
10:27 Potential Solutions to Prevent a U.S. Default
14:10 Who is Buying U.S. Debt? Key Foreign Investors
16:29 Market Crash: How a Debt Default Could Impact Investments
19:20 Conclusion and Next Steps for the U.S. Economy
Useful Links
Debt Ceiling: https://www.investopedia.com/terms/d/debt-ceiling.asp
Global Impact: https://www.pbs.org/newshour/world/heres-what-would-happen-to-the-global-economy-if-the-u-s-defaults-on-its-debt
Why Fiat Fails: https://news.bitcoin.com/how-fiat-money-fails-deconstructing-the-governments-paper-thin-promise/
Life After Default (According to The White House): https://www.whitehouse.gov/cea/written-materials/2021/10/06/life-after-default/
Source: Coin Bureau YouTube:
https://www.youtube.com/watch?v=uWs-DKJGoV0
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
