💥 The U.S. national debt just hit a staggering $35 trillion in July, and Nobel Prize-winning economist Michael Spence is sounding the alarm. 🚨 In an exclusive interview with CGTN, he warned that unchecked government liabilities could trigger 'catastrophic consequences' for the global economy.
📈 'This isn’t just a number on a spreadsheet—it’s a ticking time bomb,' Spence said, comparing the debt surge to 'maxing out the world’s biggest credit card.' 💳 Younger generations, already navigating inflation and housing challenges, could face even steeper financial hurdles if the trend continues.
🌏 Why should *you* care? The U.S. dollar’s dominance means debt shocks could ripple through Asian markets, tech startups, and even travel economies. Spence urged policymakers to prioritize 'sustainable solutions' and cross-party cooperation—before it’s too late.
💡 TL;DR: While Washington debates budgets, Spence’s warning is a wake-up call for young professionals, investors, and anyone with a wallet. Stay tuned for updates! 🔍✨
