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Economist Skalkin said there is no threat of default in the United States


Vladimir Skalkin, Associate Professor at the Department of Economic Theory at the Financial University under the Government of the Russian Federation, assessed the risk of default in the United States against the backdrop of a record increase in public debt. About it reports “Radio 1”.

According to the expert, despite the enormous size of the American national debt compared to Russia, compared to other countries it does not look so large. Skalkin added that there is no threat of a US default, including because it has already been announced.

“America may declare a selective default on any country with which it has disagreements. And this default has already been declared: anti-Russian sanctions and the freezing of Russian assets are already a default declared in favor of Russia,” the publication quotes the expert as saying.

He added that Washington could try to use such a default to its advantage. Skalkin recalled that in 2022 the US economy achieved a budget surplus of $1.7 trillion, but additional debt was accumulated. At the same time, according to Skalkin, this surplus is more likely a partial reduction in the deficit, which previously amounted to about $3 trillion.

He emphasized that such trends encourage Washington to take on even more debt.

It was previously reported that, according to information published by the United States Department of the Treasury, on September 18 of this year, the US national debt reached $33.04 trillion for the first time. This figure became a new record, exceeding the previous level of $32 trillion, recorded on June 16.

More details read the material Public News Service.

Message Economist Skalkin said there is no threat of default in the United States appeared first on Public news service.

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