Plot Twist: $7 Trillion Needs to “Roll Over”

Posted On Apr 7, 2021 By Addison Wiggin

After decades of spending much more money than it brings in, the United States was $27 trillion in the hole. That’s money it must pay to bondholders. Even if the government could sell every asset it owned, the amount would still fall short of that total. There are only two reasons that the United States hasn’t had to declare bankruptcy yet. First, the $27 trillion isn’t due all at once. Instead, Uncle Sam can pay it off as the individual bonds come due. The problem is that the United States will need to roll over $7 trillion of its outstanding debts this year alone…

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