The cost of servicing the U.S. national debt has skyrocketed in recent years. The constant threat of government shutdowns and debt defaults is a result of political dysfunction that makes solutions seem out of reach. At some point, the failure to address America’s large and growing budget deficit will hit the wallets of ordinary Americans. And it’s hard.
Bloomberg original mini-documentary Debt spiral approaching Americawe detail the potentially dire consequences of the world’s largest economy’s continued inability to manage its finances.