Blagger
Rookie
- Banned
- #1
Is America in denial about the extent of its financial problems, and therefore incapable of dealing with the gravest crisis the country has ever faced?
This is a story of debt, delusion and - potentially - disaster. For America and, if you happen to think that American influence is broadly a good thing, for the world.
The debt and the delusion are both all-American: $14 trillion (£8.75tn) of debt has been amassed and there is no cogent plan to reduce it.
The figure is impossible to comprehend: easier to focus on the fact that it grows at $40,000 (£25,000) a second.
Is this stubbornly ignorant attitude towards its undeniably dangerous level of debt going to knock America from its perch? Obscurity's inevitable, you know. All of the great powers fade over time. However much their legacy endures, the Greek, Roman and British empires all faded into the background. But the question is: will America's standing in as the world's #1 superpower be overshadowed by Chinese ambition ahead of expectations?
Is the US in denial over its $14tn debt? - BBC