Governments owe an unprecedented $91 trillion, roughly the size of the global economy, which would ultimately take a heavy toll on their people. The debt burden has increased dramatically, and now poses a growing threat to living standards even in rich economies, including the United States.
The International Monetary Fund reiterated its warning that the "chronic fiscal deficit" in the United States must be urgently addressed. As debt burdens mount around the world, investors are increasingly worried. In France, political turmoil has exacerbated concerns about the country's debt, driving up bond yields, or yields demanded by investors.
Source (Al-Rai Kuwaiti Newspaper, Edited)
