US debt watchdog CRFB warns that the United States’ debt of about $38 trillion, roughly 100% of GDP, is unsustainable. The report titled "How a Fiscal Crisis Would Look" cautions that without a well‑calibrated deficit‑reduction package the US could trigger a fiscal crisis-financial, inflationary, austerity, currency, default or gradual-impacting both domestic and global economies. Six possible crisis scenarios are outlined, and the watchdog stresses that a crisis is almost inevitable if no policy shift occurs.
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