The US economy is “driving toward a cliff” as the nation’s debt continues to surge, JPMorgan CEO Jamie Dimon has warned.
During a panel discussion at the Bipartisan Policy Center, Dimon sounded the alarm, predicting a potential “rebellion” in response to the mounting debt crisis, which he fears could trigger upheaval in global markets.
Dimon, who has previously voiced admiration for former President Donald Trump, shared his concerns about the economy’s trajectory, drawing comparisons to the challenging economic landscape of 1982.
READ MORE: US faces ‘crisis’ after hitting debt ceiling
The latest projections from the Congressional Budget Office paint a grim picture, with the national debt set to nearly double in size over the next three decades.
The current national debt, which reached about 97 percent of GDP by the end of 2022, is expected to skyrocket to a staggering 181 percent by 2053 under current law.
In light of these warnings, experts are urging policymakers to confront the looming crisis head-on to avoid the nation facing dire consequences.
