Larry McDonald/The Bear Traps Report
- The US government has spent some $28 trillion since 2020, causing its debt to surge to a record of almost $33 trillion.
- The spending binge has created a "mind-blowing hole" in the nation's public finances, according to Larry McDonald.
- Earlier this year, experts like Ray Dalio and Nouriel Roubini have also warned of the risk of a debt crisis in the US.
US government debt almost doubled in the past decade to a record level of almost $33 trillion, or 122% of the nation's GDP.
And that's got experts concerned.