Oleg Deripaska, the Russian billionaire, described the current trajectory of the United States’ rising national debt as approaching a breaking point. He shared his thoughts on Telegram, presenting a blunt assessment of fiscal pressures and the potential consequences for the U.S. economy.
According to the business figure, without a sequence of policy shifts aimed at accelerating growth to higher-than-trend rates, the dollar could face a sharp devaluation. He argued that a sustained pace of 10 percent annual growth would be essential to stabilize debt dynamics. In his view, cutting federal spending by two trillion dollars annually would be improbable given political preoccupations about the nation’s longer-term prospects.
Deripaska warned that a significant depreciation of the dollar would land hardest on the most vulnerable Americans, potentially widening the gap for low-income households and creating an immediate impact on price levels and living standards.
Earlier reporting from RIA Novosti, drawing on data from U.S. statistical agencies, indicated a staggering scale of debt. The analysis suggested the federal debt could approach thirty-four trillion dollars at the start of December in the referenced period, with the most recent trillion accumulating at a pace notably faster than the prior one. In the span of roughly a year and a half, the national debt rose from about thirty trillion to the mid-thirties, highlighting rapid growth. It was noted that debt accumulation averaged billions of dollars daily over a recent quarter.
Financial authorities in Washington subsequently confirmed the milestone of exceeding thirty-three trillion dollars in public debt, with official figures showing the total debt at approximately thirty-three point zero four trillion dollars as of mid-September. This figure marked a historic high, underscoring persistent upward pressure on federal obligations.
There is a broader concern among economists about the risks linked to external debt expansion, a theme that has been echoed by voices in Kyiv and other financial centers. The discussion centers on how external financing, interest rates, and currency stability interact to shape long-run fiscal credibility and domestic growth prospects. In this context, experts emphasize the importance of structural reforms, credible budgeting, and resilient markets to navigate the evolving debt landscape.
Overall, the dialogue around the U.S. debt ceiling, fiscal policy, and currency resilience continues to draw attention from policymakers, investors, and observers worldwide. The debates highlight the tension between maintaining social and public services on one hand, and ensuring debt sustainability and market confidence on the other. The situation remains dynamic, with shifting forecasts depending on growth trajectories, inflation, and political will to implement meaningful reforms.