Living within your means is considered a virtue in many cultures, with one notable exception – the United States, whose public debt grows by roughly a trillion dollars every 100 days and is projected to continue doing so for the next few decades. In the past, it helped to sustain the so-called American lifestyle, but the benefits of this seemingly endless ballooning for ordinary citizens are much less apparent now. How much longer can the United States exist on the assumption that the world owes it a living? To discuss this, Oksana is joined by Michael Hudson, Distinguished Research Professor of Economics at the University of Missouri.
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