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US national debt set to approach $40 trillion, with $50 trillion next
Bank of America’s chief equity strategist Michael Hartnett expects the $40 trillion milestone by 2029 and says $50 trillion could follow soon after.
MarketWatch highlights Bank of America chief equity strategist Michael Hartnett’s view that the United States is on track to reach a grim $40 trillion national debt milestone in 2029.
Hartnett also projects that the debt level could move higher toward $50 trillion soon after, reinforcing a shift in preferences toward stocks rather than bonds.
The argument ties the outlook for government borrowing to how investors may think about asset allocation as debt rises.
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