JPMorgan CEO Jamie Dimon believes addressing the U.S. debt-to-GDP ratio is crucial to prevent being forced into action by the market, potentially leading to unpopular spending cuts or fiscal stimulus adjustments.
Dimon warns that the U.S. economy is at risk of a 'car crash' if the mounting peacetime deficit of $6 trillion is not tackled proactively without market intervention.
Wharton Business School's Joao Gomes highlights the danger of major economies reconsidering buying U.S. government debt, potentially demanding higher interest rates and creating a significant economic risk.
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