Is the USA a Going Concern?

You may see the Accounting implication in my question above. But it’s a moral one as well.

In other words, for the whole world, there are concerns going forward under Trump 2.0.

At present, America seems to be bankrupt, morally as well as financially. But it’s too big to fail, right?

The U.S. budget deficit grew to $1.833 trillion for fiscal 2024, the highest outside of the COVID era, as interest on the federal debt exceeded $1 trillion for the first time and spending grew for the Social Security retirement program, health care and the military, the Treasury Department said on Friday.

The deficit for the year ended Sept. 30 was up 8%, or $138 billion, from the $1.695 trillion recorded in fiscal 2023. It was the third-largest federal deficit in U.S. history, after the pandemic relief-driven deficits of $3.132 trillion in fiscal 2020 and $2.772 trillion in fiscal 2021.

Reuters (October 18, 2024)

Perhaps a picture would be worth a thousand words:

If Donald Trump has his way, the sky’s the limit, as the country sinks under the weight of its debt load.

We shall see.