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Forget Venezuela and Greenland – here is the real trillion-dollar question (www.scmp.com)

submitted 1 month ago by rss@news.abolish.capital to c/china@news.abolish.capital

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In today’s chaotic world, we can sum up the shift in the global economy and geopolitics with a single number: 1 trillion. The year 2024 will be remembered as the first time in history that a national government’s interest payments on its debt exceeded US$1 trillion, according to data from the Federal Reserve Bank of St Louis. Despite US President Donald Trump’s pledge to cut federal spending and his aggressive global trade war, the United States is now adding US$1 trillion in national debt every...

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