Jamie Dimon, the CEO of JPMorgan Chase, has issued a stark warning about the consequences of the rapidly growing U.S. national debt, stating that the country is heading 'into the abyss' if the issue is not addressed. He suggested that the United States is on an economic path towards a cliff, with the national debt reaching approximately $34 trillion. Dimon's comments were echoed by others, including a statement from the Peter G. Peterson Foundation, which highlighted the negative impact of debt on the nation's ability to invest in its future. Additionally, U.S. Treasury Secretary Janet Yellen has acknowledged the country's significant debt level. Concerns were also raised about the government's fiscal management, with accusations of 'fudging the numbers' and running a $1.7 trillion deficit. Senator Lummis emphasized the importance of balancing the budget and paying down the debt to alleviate the consequences of what was termed the Biden administration's 'reckless spending' and to lower the cost of basic goods and services, using the hashtag 'BendtheSpend'. Dimon also warned of a potential 'rebellion' in global markets due to the mounting U.S. debt.
Jamie Dimon says mounting US debt will eventually spark a 'rebellion' in global markets https://t.co/wKpWYmdC6M
"A nation saddled with debt will have less to invest in its own future," the @pgpfoundation said. Reminder, we are $34 trillion and counting in debt. https://t.co/2N1ynDgOes
$JPM CEO says Washington faces a global market ‘rebellion’ over record U.S. debt: ‘It is a cliff…we’re going 60 mph towards it’ - Fortune
JPMorgan Chase: The US is headed for the precipice – at 60 miles per hour – due to rising national debt JAMES DYMON: THE PRESENCE IS IN FRONT OF US, WE CAN ALREADY SEE IT, ALTHOUGH IT'S STILL A TEN YEARS AWAY US Treasury Secretary Janet Yellen called the country's $34 trillion… https://t.co/uS64yreDl4
Balancing the budget and paying down the $34 trillion debt is not just about averting fiscal disaster for future generations, it’s also about easing the burden of the Biden administration’s reckless spending and lowering the cost of basic goods and services. #BendtheSpend
The U.S. Government Is Fudging the Numbers “The way we do it in America now is say, ‘There’s no recession because we borrowed from your children and borrowed from the future’ … That’s why you’re running a $1.7 trillion deficit and have going on $35 trillion in U.S. debt.” –… https://t.co/SS47n4BeGR
The rapid growth of the US national debt will lead the country "into the abyss" if the government does not solve this problem before a deeper crisis, said the managing director of "JP Morgan" Jamie Dimon. " The United States is headed for an economic cliff, and its national debt…
🇺🇸 CEO of "JP Morgan": American debt is leading the USA into the abyss https://t.co/kKrT7uxN1k