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U.S. National Debt Set to Skyrocket to Record Levels Without Reform, Threatening Imminent Debt Crisis

The U.S. national debt is on track to hit record levels, raising the risk of a debt crisis if fiscal reforms are not implemented. According to the Congressional Budget Office (CBO), budget deficits are projected to exceed $2 trillion annually by 2030, with public debt rising from $28 trillion to over $50 trillion by 2034. Debt-to-GDP ratios are expected to soar, potentially reaching a critical 200%.

Lawmakers face key fiscal policy deadlines in 2025, including the reactivation of the debt limit, expiration of budget caps, and the sunset of Trump-era tax cuts. These issues present an opportunity for budget reform discussions, but the political climate remains contentious.

Failure to address these challenges could lead to higher interest rates, increased borrowing costs, and reduced economic stability. With the presidential election looming, the need for bipartisan fiscal responsibility is urgent to prevent a looming financial disaster. Read More.

_{FINANCIAL NEWS}

Clear Signs of a Slowdown Emerge in the US Economy

The US economy is showing clear signs of a slowdown as indicated by the latest labor market data. The recent jobs report reveals that payroll growth has decelerated to its lowest since January 2021, the unemployment rate has risen to 4.1%, the highest since November 2021, and wage growth has slowed to 3.9%, the slowest since May 2021. This data suggests that the Federal Reserve may be considering interest rate cuts in September and December. Fed Chair Jerome Powell, who will testify before Congress this week, will likely address these developments, which could solidify expectations for a rate cut. Meanwhile, global economic activities continue with significant events and decisions expected in France, Japan, Israel, and other countries. Read Now.