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$40 trillion debt balloon is a warning sign for US economy and the world

By Muhammad Ali Nasir, Professor of Economics, University of Leeds

US national debt has passed a record US$40 trillion (£29.4 trillion). This milestone is a major warning sign. It reveals vulnerabilities that threaten the long-term economic stability of the US and the rest of the world.

The speed of US debt accumulation is staggering. US national debt first reached $1 trillion in 1941 and, after rising to $20 trillion in 2017, has

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