US EditionThe National Debt Is America’s Hoarding Problem
David Solomon warns $38 trillion U.S. debt growth outpaces economic expansion, risking a fiscal reckoning without substantial growth, with fastest increase since pandemic in 2025.
- This year, Goldman Sachs CEO David Solomon warned there "will be a reckoning" if growth does not outpace the $38 trillion national debt, adding refinancing could push it into the low forties.
- Solomon traced the rise to embedded fiscal stimulus, arguing it drives debt growth from roughly $10 trillion to over three times as large, while Michael Petersen, CEO of the nonpartisan watchdog, called adding trillion after trillion unsustainable.
- Solomon used a medical metaphor, calling the problem `plaque`, emphasized the `monstrous` gap between 3% and 2% growth, and argued growth is preferable to revenue-led fixes.
- Solomon warned that if the debt keeps growing, the financial burden will shift to Americans, emphasizing the need for continued market dependence and citing the risk of an `economic heart attack`.
- Solomon argued growth, not taxes, must lead the solution, citing artificial intelligence and technology-driven productivity plus six or seven large companies spending $350 billion this year.
30 Articles
30 Articles
Helena Independent Record
The national debt is America’s hoarding problem
Even a federal shutdown can’t keep the national debt from continuing to spiral out of control.
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