"IMF Warns of US National Debt Impact on Global Economy"

The International Monetary Fund has issued a warning about the soaring U.S. national debt, stating that it poses significant risks to the global economy and could fuel high inflation. The IMF expects the U.S. to record a fiscal deficit of 7.1% in 2025, more than triple the level in other advanced economies, and projects the national debt to nearly double by 2053. The IMF also identified "large fiscal slippages" in the U.S. in 2023, with government spending surpassing revenue by 8.8% of GDP, and warned that the massive amount of spending, while propelling the economy, also risks reigniting inflation and undermining financial stability worldwide.