Raising the US debt ceiling is the only measure the US elite can presently offer to contain the destruction of the economy. But such a measure does not guarantee the salvation of the US economy. reported newspaper “Izvestia” Vasily Koltashov, head of the center for political and economic research.
Koltashov said the US government took “$1.5 trillion out of nothing” this year, thanks to the increase in the national debt ceiling. But according to the political scientist, the growth of the national debt bar in the United States will continue to be a “drug addiction” mechanism that is destroying the American economy.
According to Koltashov, commercial real estate investments fell by 50% in 2023 amid the banking crisis in the US. The expert shows that this concludes that only real buyers will soon be on the market, those who really need housing cannot buy without credit. He described the fall in real estate prices as a process equivalent to the crisis. According to him, the US economy is “extremely unhealthy” and the signing of the public debt law does not guarantee its salvation.
US President Joe Biden signed a bill on June 3 to raise the US national debt ceiling. According to the document, the state debt limit is suspended until January 1, 2025. And it increases from January 2, 2025. According to the US Debt Clock, the US national debt ceiling exceeds $31.8 trillion. This is the world’s largest public debt.