Direct Translation via Google Translate. Edited.
[Regnum] An economic crisis could engulf the United States by the end of 2025 if the United States Congress does not take urgent measures. This was stated on January 16 by the candidate for the post of US Secretary of the Treasury, Scott Bessent.
He also warned that if the situation does not change, the country will face a $4 trillion tax increase.
"This will be the largest tax increase in the history of this country, and its consequences will be devastating," he said in a speech he decided to deliver before the Senate Finance Committee.
The text of the document is quoted by Bloomberg. According to Bessent, due to large budget expenditures, the US government faced a deficit of funds, which amounted to 7% of GDP, which is the highest value in the last four years.
The candidate for Treasury Secretary called for putting finances in order and cutting unnecessary spending, which increased by 40% during the specified period. Bessent believes that the United States should prioritize investments that would help economic growth.
As reported by Regnum News Agency, on January 15, candidate for the post of US Secretary of State Marco Rubio stated that excessive commitment to globalism to the detriment of national interests has weakened the economy and security of the United States. He also expressed the opinion that other countries have learned to manipulate this order in their own interests, harming the US.
In early January, American investor Jim Rogers warned that the world will face a global economic crisis in 2025. He believes that the reasons for a deep global recession will be the record high government debt of the US, Japan, China and Germany, as well as the longest period of American economic stability since 2009.
At the end of December, it became known that the US national debt for 2024 had grown by $2.4 trillion, and this amount exceeded the total debt of the Russian Federation by more than eight times. In total, the US national debt then amounted to $36 trillion.
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