12 October 2023
The IMF warned of Joe Biden’s high borrowing pushing global debt towards instability, primarily driven by the US and China. Contrary to Biden’s claims, US debt reached an alarming $33 trillion. The IMF anticipates US debt will soon surpass 100% of GDP. While Treasury Secretary Janet Yellen asserts the US’s debt interest is manageable, the Congressional Budget Office voices significant concerns about the rising debt’s implications.