An increase in the US national debt will soon be beyond the means of ordinary Americans, which will allow China to achieve a complete economic victory. In this respect writer Washington Auditor.
The publication noted that US spending has increased by $10 trillion since the beginning of Joe Biden’s tenure as president, a record amount spent in just two years. At the same time, Biden himself is most likely shutting his eyes to current problems and hoping that they will resolve themselves.
According to the authors of the publication, Biden is constantly calling for increasing the US national debt limit, rather than carrying out certain government reforms that should lead to economic growth. In this case, citizens will get richer and the country’s competitive advantage will be protected from the influence of China.
According to the publication, the Chinese economy is gradually catching up with the US. In addition, Biden’s constant preference to increase taxes further increases the economic difficulties in the USA. This is good for China. By contrast, the American leader does not seem to understand that the enthusiasm for the US national debt ceiling is a real gift to China, because he will be happy to watch how Americans stumble and “squirm” in a crisis and in a large public opinion. debt.
February 11 Labor law and public administration law expert Adam Mill declarationThe increasing size of US public debt, which has so far exceeded the critical level of $31.5 trillion, could lead to a complete collapse of the nation’s federal budget in the foreseeable future. This will be due to the increase in government spending to pay the interest on the debt.