Global debt is soaring — and we need to talk about it
This month, the nasty topic of debt is sneaking up on Washington’s political radar, late.Last week, Treasury Secretary Janet Yellen said Congress Debt cap (Or borrowing limit).
Meanwhile, the Biden administration is facing opposition Aiming to raise taxes on wealthy Americans Pay its estimated $ 3.5 trillion spending plan without adding to its ever-increasing debt.
But in the midst of these domestic financial struggles, a series of amazing series of recommendations from the Institute of International Finance, another corner of Washington, to pay attention to investors, policy makers and citizens as well. The numbers have appeared.
IIF’s “Pandemic Updates” on Global Debt show that Yellen’s latest demands are just one small symbol of a much wider global trend in relentlessly rising borrowing levels. increase. The only thing that is more remarkable than the magnitude of this…