Speaker of US House of Representatives reveals biggest threat to US

WORLD, Feb. 02 (YPA) – Speaker of the US House of Representatives, Kevin McCarthy, said the national debt, which amounted to 120% of GDP, to be the biggest threat facing the United States.

McCarthy said after a White House meeting with President Joe Biden: “The biggest threat America faces is our debt. Our debt is now 120% of GDP, which means it exceeds our economy in size. That’s more than at any time in American history.”

He added that state treasury revenues are now higher than at any time in history. “So, we have big revenues, there’s just spending problems.”

The US Treasury Department earlier announced the start of “extraordinary measures” and warned of a possible default in early June.

E.M