Daily Mail: Wharton Professor Predicts 2025 Financial Meltdown With $34 Trillion Debt Set to 'Derail the Next Administration'
Article by Laura Parnaby in Daily Mail
America's $34 trillion debt will disrupt the global economy as early as next year if the next president pursues expensive policies, a finance expert has warned.
Wharton Business School Professor Joao Gomes has said the public debt mountain marks a 'moment in history' - and it could 'derail the next administration'.
'Toward the latter part of the decade we will have to deal with this,' he told Fortune. 'It could derail the next administration, frankly.
'If they come up with plans for large tax cuts or another big fiscal stimulus, the markets could rebel, interest rates could just spike right there and we would have a crisis in 2025.
'It could very well happen. I'm very confident by the end of the decade one way or another, we will be there.'
Experts are currently predicting that .......