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Economy
Hula painted frog

AP

  • The US's growing pile of debt is a "boiling frog" for the US economy, JPMorgan warned.
  • Government bills will exceed revenue by the early 2030s, per a Congressional Budget Office estimate.
  • But the US doesn't look likely to cut back its discretionary spending anytime soon, the bank said.

The US's $34 trillion debt mountain might be a "boiling frog" phenomenon for the economy, as higher deficits and ballooning debt servicing costs could easily become unsustainable, JPMorgan warned.

Tags
economy, Markets, us-debt, national-debt, us-debt-levels, federal-deficit, government-deficit, government-spending, JPMorgan
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The $34 trillion mountain of national debt is a 'boiling frog' situation for th…