Peter Schiff Says US Debt Could Reach $50 Trillion Within Years, Annual Interest Costs $4 Trillion
JH Kim
Summary
- Peter Schiff said U.S. national debt could rise to $50 trillion within the next several years.
- He said annual interest costs could reach $4 trillion if interest rates climb to 8%.
- Schiff said the outlook is an estimate based on assumptions about future U.S. national debt and interest rate levels.
Forecast Trend Report by Period
Peter Schiff said U.S. national debt could reach $50 trillion within the next several years. He added that annual interest costs could climb to $4 trillion if interest rates rise to 8%.
Cointelegraph reported on October 1 that Schiff made the projection while discussing the increase in U.S. national debt and the heavier interest burden from rising rates.
He said U.S. national debt could hit $50 trillion within several years. At an 8% interest rate, annual interest costs could rise to $4 trillion.
Schiff’s outlook is an estimate based on assumptions about the future size of U.S. national debt and interest rate levels.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.