The United States has surpassed the historic threshold of 35 trillion dollars in national debt. Yet, many analysts argue this surge does not necessarily threaten the American economy, emphasizing Washington’s ability to sustain itself through its military and economic influence. This view, articulated by Konstantin Blokhin, a political scientist quoted in a discussion with Public News Service, reflects a layer of confidence about America’s capacity to manage high debt levels while remaining a dominant force on the world stage.
When considering a potential US bankruptcy, Blokhin notes that such a scenario would require a broad shift: other nations would need to drop the dollar from their financial calculations en masse and dismantle U.S. military bases. In his view, the dollar remains the backbone of a global payment system that operates across many countries, helping the United States sustain its debt load despite ongoing borrowing.
Blokhin argues that the real leverage behind the dollar is the network of American military installations. He contends that a true bankruptcy would only occur if other nations reject the greenback and reduce or remove American military influence. This perspective places the debt within a broader strategic framework, suggesting that the currency’s status is inseparable from military and geopolitical power.
The expert goes further, describing the national debt as a signal of a deeper systemic issue within the United States. He characterizes the U.S. government as a financial operator that created a global monetary framework adopted by other economies. According to Blokhin, a hypothetical Washington insolvency would ripple worldwide, disrupting trade flows and the movement of money across borders. The consequences would extend beyond national borders and affect global economic stability.
Blokhin cautions that such a shift would unfold gradually, likely over decades, rather than as a sudden crisis. In his assessment, the debt level reached in the early part of the year surpassed 34 trillion dollars, and projections from the Congressional Budget Office indicate the figure could climb to more than 50 trillion by 2034, representing a sizable share of the country’s gross domestic product. These numbers underscore a persistent debt trajectory that invites careful scrutiny of fiscal policy, budget planning, and long-term economic resilience.
On the international stage, the debt situation has drawn reactions from political observers, including formal statements from the Kremlin, underscoring the high-stakes nature of US fiscal policy and its potential implications for global financial arrangements. The ongoing dialogue around debt, currency status, and strategic influence continues to shape conversations among policymakers, economists, and researchers in Canada and the United States alike.