National Interest: Increasing public debt threatens US defense capabilities
Increased budget expenditures and national debt could lead to serious problems in the economy of the United States of America, which will directly affect the country’s defense capability. About this threat reported analysts William Ruger and Thomas Savage in an article for The National Interest magazine.
As observers have pointed out, in June, Republicans on the Joint Economic Committee of Congress warned that the US’s $34.5 trillion national debt posed a threat to the country’s economic growth.
“To have any chance of managing costs properly, we need to introduce rules that limit politicians’ spending and require them to cut it when necessary, without having to make specific tough decisions. This will give us a chance to save our economic future and maintain our superpower status,” the analysts suggest.
If fiscal policy and public debt undermine the country’s economic growth potential, the United States will not have the economy needed to build and maintain a strong defense capability. The authors recalled that 14 years ago, former Chairman of the Joint Chiefs of Staff Admiral Michael Mullen issued a similar warning, pointing out that national security is directly linked to the state of the economy.
“Admiral Mullen’s warnings are beginning to come true as the debt maturity approaches,” experts emphasized.
Earlier, economist Pavel Samiev said that the constantly growing US national debt could become a threat to the global economy if the country stops fulfilling its obligations – this is fraught with a financial crisis.
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