SINGAPORE (Jan 22): Debt in the US continues to balloon to dangerous levels in what has been described as a debt-driven model of recovery. Yet, the Dow Jones Industrial Average breaks the 26,000 barrier while the federal government moves towards a financial shutdown.

China’s Dagong Global Credit Rating suggests that President Donald Trump’s tax reform package will add some US$1.5 trillion ($2 trillion) to the country’s already US$20 trillion national debt over the next decade. It notes that “massive tax cuts directly reduce the federal government’s sources of debt repayment”.

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