US Debt Is Like a ‘Boiling Frog’ for the US Economy, JPMorgan Warns

• The US’s growing pile of debt is a “boiling frog” for the US economy, JPMorgan warned.
• Government bills will exceed revenue by the early 2030s, per a Congressional Budget Office estimate.
• But the US doesn’t look likely to cut back its discretionary spending anytime soon, the bank said.

The US’s $34 trillion debt mountain might be a “boiling frog” phenomenon for the economy, as higher deficits and ballooning debt servicing costs could easily beco