BofA CEO says U.S. economy is the envy of the world—but could lose its power due to national debt
==========
Brian Moynihan, CEO of Bank of America, warns that the U.S. economy, currently at $35.7 trillion in national debt, could lose its global economic status; each American's share of the debt exceeds $105,000; he urges politicians to prioritize debt-to-GDP plans; under Trump, debt increased by $8.4 trillion, while Biden added $4.3 trillion; a CBO report predicts public debt could reach 166% of GDP by 2054; Moynihan emphasizes the need for spending discipline and growth to manage debt; experts have mixed views on the implications of high national debt.
#NationalDebt #Economy #BankOfAmerica #BrianMoynihan #UsPolitics #Debttogdp #FinancialWarning #EconomicGrowth #PublicSpending #FiscalPolicy
https://fortune.com/2024/10/16/bank-of-america-brian-moynihan-national-debt-warning/
Oddbean new post about login | logout