Trump’s US fiscal policies threaten global economy with soaring debt levels – Richard Prebble
US President Donald Trump’s “Big, Beautiful Bill” has passed into law. Photo / Getty Images
THE FACTS
- US federal debt is projected to reach 130% of GDP within a decade.
- US President Donald Trump’s Budget increases the debt by US$4 trillion, with tariffs adding to economic challenges.
- Rising global interest rates could impact New Zealand’s economy, with higher rates and deficits expected.
Economists estimate that under Donald Trump’s “One Big Beautiful Bill” Budget deal, US federal debt will hit 130% of GDP within a decade.
America is heading for an economic crisis.
This crisis hasn’t been caused by one party or President. It’s been building for decades, driven by demographic