PNN – A prominent American economist stated that the national debt of the United States has surpassed the $40 trillion mark.
According to the report of Pakistan News Network; Richard Wolff, a leading American economist, commented on the economic consequences of the war against Iran—which has recently reached the six-month mark—noting that since the conflict has been ongoing for only a few months, its impact on the prices we pay will soon become apparent.
He continued: The US national debt has recently surpassed the $40 trillion mark, and this is one of the many signs of an economy and an empire in decline.
Wolff said: A massive increase in defense spending—or, as it stands now, war spending—is planned, yet there is no comparable increase in revenue.