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00:00 Since 2020, the US has been raising taxes to support sectors and the economy.
00:06 It has also raised interest rates, which has led to a rise in import costs and also to a rise in debt levels.
00:15 For the first time ever, the debt levels in the US have exceeded the $34 trillion threshold.
00:22 This is due to the rise in health sector costs, as well as the rise in spending and interest rates.
00:29 But the GDP has reached 120% compared to the second quarter of 2020, when it reached 133%.
00:43 This is due to the coronavirus pandemic, the increase in government spending to support sectors and the exit from the pandemic,
00:51 and also the rise in interest rates. In 2023, the US Federal Reserve raised interest rates four times to 100%,
00:59 to reach the highest level since 2008, 5.5%, and then it stabilized it at the highest level in 12 years.
01:09 This poses a threat to the heads of companies and banks.
01:13 President J.P. Morgan has said that the US economy is heading to a dead end
01:17 if it does not deal with the big debts.
01:22 President J.P. Morgan and President J.P. Powell have also said that the US is heading to a dead end
01:30 and this is what is causing the fear of the US's steadfastness in dealing with the debt,
01:36 or even the financial crisis that we have seen in 2008.
01:40 But what do the expectations point to? The expectations are pessimistic.
01:45 The US debt index indicates expectations of a national debt rise of 54 trillion dollars by 2034,
01:53 which is more than 19 trillion dollars in 10 years.
01:58 The deficit that came in 2023 was less than expected,
02:03 and this is due to the growth of the economy, data, and the strong labor market,
02:07 where more than 5 million people entered the labor market in 2023.
02:12 The annual deficit in 2034 indicates expectations of 2.6 trillion dollars,
02:20 with revenues of 7.5 trillion dollars and expenses of 10 trillion dollars,
02:26 from a rise of 2.6 to 1.6 trillion dollars in 2024.
02:34 The debt service of GDP indicates expectations of a 3.9% rise in 2034,
02:44 from 1.8% in 2019.
02:49 Amidst all these expectations and the rise of debts,
02:52 can the US economy face these debts?