The Scoop
176895243story from fortune.com
Posted by msmashon Tuesday April 01, 2025 @02:40PM from the how-about-thatdept.
With America's national debt sitting comfortably over the $36.2 trillion mark, the burden could one day be the reason the dollar is dethroned as the reserve currency of the world. From a report:
He argues that decentralized currencies like Bitcoin could replace the dollar as worldwide organizations lose faith in national currencies and seek an independent solution. Fink explained his theory in his 2025 letter to shareholders, writing: "The U.S. has benefited from the dollar serving as the world's reserve currency for decades. But that's not guaranteed to last forever."
The national debt has grown at three times the pace of GDP since Times Square's debt clock started ticking in 1989. This year, interest payments will surpass $952 billion -- exceeding defense spending. By 2030, mandatory government spending and debt service will consume all federal revenue, creating a permanent deficit.
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