Goldman Sachs CEO David Solomon on Thursday expressed concerns that mounting US government debt will pose more of a problem if the economy does not grow faster.
“If we continue on the current course, and we don’t take the growth level up… there will be a reckoning,” Solomon told the Economic Club of Washington.
The US national debt recently hit $38 trillion.
“We should be concerned about this, not sounding an alarm bell,” he said. “But I do think over time, this is an issue.”
“The pandemic played an accelerating role, and it doesn’t seem like we have the ability to pull it back. And so we took in the debt in the last 15 plus years, and since the financial crisis, from $7 trillion to $38 trillion.”
The US economy has been in pretty good shape, minimizing chances of a…
