foxie48
The latest US debt is 125.3% of GDP. If the US dollar loses it's status as the Petrodollar it will push borrowing interest rates up considerably and could cause a recession. The only reason that the US can carry such a high level of government debt is because of the dollar's status internationally.
The US uses its reserve status and high borrowing to keep taxes low and win votes, both Republicans and Democrats do it for different reasons, both will suffer badly if the reserve currency is lost.
An example is oil, fuel at the pumps there is 70p a liter, yes seventy pence and they are complaining, their standard of living is higher than ours they should be paying our price or more, maybe they would take climate change seriously.