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Story summary
- U.S. economist Peter Schiff warned that the United States’ $39.5 trillion debt could trigger a collapse of the dollar.
- He said interest costs have risen to $1.6 trillion and could reach $2 trillion, risking a sovereign debt crisis.
- Treasury data show debt grew from $14.79 trillion in 2011 to $39.5 trillion, a 167 % rise in 15 years.
- The Government Accountability Office warned that without policy changes, federal debt will continue outpacing economic growth.
