US debt to GDP has been flat under President Trump thanks to strong GDP growth but the massive spike during Obama’s disastrous tenure put the American budget in a terrible spot, plus the mind-boggling unfounded liabilities that you mention.
Cities will start to go broke unless they chop public servant pensions but who wants to do that?
Interesting times ahead, Australia is lucky that Howard and Costello put us a decade behind the debt mountain that other countries now have even though Rudd did his best to catch up.
Good time to get our budget back to surplus and watch the world from afar.
