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Bloomberg News: US Risks Fiscal Crisis After Soaring Borrowing, Blanchard Warns

February 22, 2024
Dollar Crash, Buy Gold, Buy Silver

Article by Tom Rees in Bloomberg News

The US is in danger of a fiscal crisis erupting after a ballooning in deficits in recent years, according to Olivier Blanchard, a senior fellow at the Peterson Institute for International Economics.

Blanchard, a former International Monetary Fund chief economist who typically has a more relaxed fiscal stance, said he is concerned about the attitude in Washington to eye-watering US government deficits.

“In the US, I’m very worried because the primary deficits are very large and there’s absolutely no attempt to decrease them in any way, shape or form,” he told the House of Lords Economic Affairs Committee via video link on Tuesday. Primary deficits exclude government debt costs.

He is the latest to warn of a dire trajectory for .....

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