The next US President will face a historic federal debt that is currently forecasted to reach 107% of GDP in 2029.
Is the next crisis lurking due to this fiscal deterioration?
As the upcoming US elections in November are approaching, the spiraling debt will constitute a hard point on the candidates political agenda and once in elected office, an unresolved country-wide problem that will trigger unprecedented events in the economy and global financial markets.
The higher the debt and fiscal deficit, the higher the interest rates payments as % of GDP that will have to be served.
Credit rating agencies have started changing their government bond ratings from positive to negative with what this predicates.
Forecasts and predictions for the coming years and long term future describe a bleak picture for US debt reaching unsustainable levels with adverse impact on foreign investors, bond holders, and most importantly, for the American citizens well being through the social security programs expenditures.
Let’s hope that 2025 will not be the year of default for the US government.
-Efstathios Kassios
EFSTATHIOS KASSIOS 
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