I'm an economics noob, but from a lay perspective, I do wonder how sustainable the American economic model is.
The debt is higher than the GDP. That's not really a problem as long as you can keep printing money and that money will be absorbed by other economies.
However, for the first time in over 200 years, we're reaching a point where the largest global economies are NOT western nations. While Japan and France and UK and other EU allies could be counted upon to keep buying your currency, can you be as dependant on India, China, Indonesia and Brazil?
What happens in 2050 when the amount of money needed to keep propping up the system keeps going up, yet the economies with the money and scale to absorb that extra money are not your allies?
The debt is higher than the GDP. That's not really a problem as long as you can keep printing money and that money will be absorbed by other economies.
However, for the first time in over 200 years, we're reaching a point where the largest global economies are NOT western nations. While Japan and France and UK and other EU allies could be counted upon to keep buying your currency, can you be as dependant on India, China, Indonesia and Brazil?
What happens in 2050 when the amount of money needed to keep propping up the system keeps going up, yet the economies with the money and scale to absorb that extra money are not your allies?