Russia names main threat to global economy ...News

Russia Today - Economy
Russia names main threat to global economy
source : Russia Today ( News ) () 44
US government debt is unpayable, Roscongress has warned US government debt and the budget deficit present the biggest threat to the global economy this year, Russian government agency Roscongress has said. Washington’s $34 trillion debt is mathematically impossible to pay off, Roscongress claimed in a report it published on Wednesday. The agency based its estimate on the current ratio between the size of the debt, the rate at which it is growing, and budget revenues. “The excessive debt was accumulated at low rates but needs to be refinanced at high rates that limit economic activity and reduce cash flow. In the m

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