Will US Debt Spell the End of the Dollar's Dominance?
The US government is $34 trillion in debt and counting; in 10 years, interest payments alone are projected to be $1.6 trillion per year. These astronomical sums are leading to a crisis that could see the end of the US dollar as the “world’s currency.” In this episode of CEO Perspectives, Joseph E. Kasputys, PhD, former US Navy Commander, CEO of Economic Ventures, and CED Trustee, joins President and CEO Steve Odland to discuss solutions to the US debt crisis and what the business landscape might look like if US debt continues to grow unchecked. Tune in to find out: · How will the US debt situation affect the world economy over the next decade? · How do Medicare and Social Security fit into this intricate puzzle, and what policy changes could bring the debt back down to an acceptable level? · What happens when markets lose faith in the dollar and the US can't finance its debt? For more Trusted Insights for What’s AheadTM: · Read: US National Debt and Federal Budget Negotiations · Read: Record Debt Servicing Costs Weigh on US Fiscal Outlook · Watch: CED Policy Watch: Debt Matters: Finding an Affordable Way to Build Back Better