New York Times urges Washington to consider ancient Sumerian debt-cancellation model

WASHINGTON, United States — The New York Times has suggested Washington draw inspiration from amargi, a debt-cancellation mechanism introduced by the Sumerian ruler Entemena roughly 4,400 years ago, as U.S. public debt surpassed $40 trillion for the first time. The newspaper argued that the ancient practice could provide a guiding principle for rethinking America's economic policy and its relationship with debt and money. The Times noted that a modern adaptation of amargi is considered unlikely, but said the principles underlying the ancient system could serve as a reference point in the search for solutions to current economic problems. Billionaire Elon Musk warned that if public debt continues to rise, the United States could face serious fiscal difficulties by 2030. The U.S. Treasury Department said the national debt has crossed the $40 trillion mark for the first time in history, and cautioned that rising costs of social security programs and higher interest payments are increasing financial pressures on the federal government.