JPMorgan Chief: US economy driving towards cliff due to national debt

The US economy is speeding toward a cliff as the nation’s runaway debt continues to mount – as stated by JPMorgan Chase Chairman and CEO Jamie Dimon, TASS reports

photo: www.reuters.com

“It is a cliff, we see the cliff,” Dimon told the Fox News . “It’s about 10 years out, we’re going 60 miles an hour [toward it].”

Joining Dimon in this grim forecast was former House Speaker Paul Ryan, who dubbed the snowballing debt ‘the most predictable crisis’ in US history.

US Treasury Secretary Janet Yellen said her country’s $34-trillion public debt is a ‘scary number’.

In early January, the US Treasury announced that the country’s national debt had crossed the $34 trillion mark. In 2023, it increased by more than $4 trillion.