Jamie Dimon warns $38 trillion national debt is going to ‘bite’: ‘You can’t just keep borrowing money endlessly’

Core Insights - JPMorgan Chase reported Q4 2025 revenue of $45.8 billion and assets under management of $4.8 trillion, marking an 18% year-over-year increase [1] - CEO Jamie Dimon emphasized the need for governments to reassess their spending habits due to rising government debt [3] Economic Outlook - Dimon provided a mixed economic outlook, noting that while labor markets have softened, they do not appear to be worsening, and consumer spending remains resilient [2] - He highlighted that businesses are generally healthy despite market upheaval caused by changing foreign and trade policies [2] Government Debt Concerns - Dimon warned of a looming macroeconomic risk related to government debt, suggesting that the U.S. may face a market "rebellion" over this issue [3] - He pointed out that the U.S. government spent $276 billion on interest payments on the national debt in Q4 2025, with a reported deficit of $601 billion for the first quarter of fiscal year 2026, which is $110 billion less than the same period last year [4]