News of the day: National debt of the USA, Gaza and Israel, German wanderlust

1. The U.S. national debt is growing strongly, which is also causing unrest on Wall Street

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U.S. flag in front of the Capitol: "We're going to have a debt crisis in this country"

Photo: Stefabni Reynolds / AFP

Almost 200 years ago, the writer Honoré de Balzac, who was particularly shrewd when it came to money, had a clever tip on how best to get rid of his debts: "Wait until the debt is time-barred." Unfortunately, this is not the way to make sovereign debt disappear these days. My colleague Ines Zöttl reports today from Washington that the national debt of the United States has grown to more than 33 trillion dollars. Some economists are particularly concerned about the prospect that debt is likely to rise further.

"In fact, there is no sign that America is determined to address its growing deficits," my colleague writes. "The opposition of Republican hardliners to President Joe Biden's budget plan for the current year was a show. The last time the U.S. government took in more than it spent was in fiscal year 2001."

Above all, it is the recent rise in interest rates that could also make America's national debt a threat to the world's most important economy. In fiscal year 2022, the U.S. spent $475 billion on interest. According to current estimates, it could be three times as much by 2033. On Wall Street, some experts are already talking about an impending "debt crisis." In her text, Ines Zöttl quotes a financial expert as saying: "People have mistakenly relied on interest rates to remain low forever." So much naivety is hard to comprehend, even for people like me who are far removed from business.
After all, my colleague reports that there is probably still time to change course; under current conditions, the U.S. would still have about 20 years to correct its course. After that, however, "a default by the world's most important debtor is inevitable. Colloquially called: the state bankruptcy.«

• Read the full story here: America's Debt Spirals Out of Control

2. An Israeli Ground Force Invasion of the Gaza Strip Is Likely to Be Bloody

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Debris in Gaza after Israeli airstrikes

Photo: Fatima Shbair / AP

Despite mined streets and alleys, booby traps and ambushes in nested building complexes, Israeli soldiers are likely to march into the Gaza Strip as part of a ground offensive and engage in house-to-house warfare with Hamas.

"Hamas knows its way around here," writes my colleague Richard C. Schneider from Israel. "She has created an elaborate system of tunnels and cellars. Hidden inside, their fighters can hold out and move invisibly to the Israeli enemy. Gaza is a home game for Hamas, a big death trap for Israel's army."

Both sides have upgraded and have been training for the upcoming battle for a long time. Israel must act with very high firepower when the army invades, my colleague reports. "But it also means that the soldiers will leave behind the corridors of annihilation, that civilians will not be taken into account when they are in the combat zone." It is likely that the terrorist groups will use people as human shields. According to the cynical calculations of the defenders, high casualties among innocent bystanders or even hostages could lead to the world crying out and condemning Israel for its brutality.

Will the invasion of Israeli ground troops inevitably come, or could there be an alternative? "I think the ground offensive is coming," says my colleague Richard. "The question is: What goal will be formulated and how massive will it be? And how deep do you want to penetrate Gaza?"

• Read the full story here: Mines, tunnels, ambushes – the risks of an Israeli ground offensive

And here are more news and background on the attack on Israel:

• Trump calls Hezbollah "very smart": Kicking Netanyahu, malice for the Biden administration: Donald Trump has linked a speech about Hamas' attack on Israel with crude statements and old lies. In doing so, he caused fierce criticism – even in his own party.

• "We should negotiate with the PLO": Israel's former justice minister, Yossi Beilin, was an architect of the Oslo peace accords with the Palestinians. Here he says who he blames for the failure and what needs to happen now.

• Israeli retaliation hits people in Gaza hard: People stand on their balconies and sing the national anthem together, the army fights Hamas goals in the Gaza Strip: Israel is closing in and fighting back. For the residents of Gaza, the situation is becoming more and more dramatic. Watch the video here.

• And here: All the latest developments in the news blog.

3. Germans have set a tourism record, even though the number of holidaymakers is falling

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Beach in Mallorca in summer 2023

Photo: Chris Emil Janßen / IMAGO

The travel industry in Germany is set to record revenues this year. For the statisticians, the tourism year 2022/23 apparently ends on October 31, according to calculations by an analysis company, the industry's turnover was already seven percent higher at the end of August than in the previous record travel year, which was a few years ago. Although more money has been spent on tourism than ever before, fewer people have traveled – because many cannot or do not want to afford a holiday.

"If you can, you travel – no matter what the cost," says my colleague Antje Blinda from SPIEGEL's travel department. The record numbers of the organizers showed the pent-up demand after the corona-related restrictions. "The fact that Germans spend so much on their holidays is mainly due to the fact that travel has become more expensive. The trend will continue in the foreseeable future, both for package holidays and for individually booked flights, hotels or campsites. Holidays are simply becoming more and more of a luxury good.«

What is it that drives many people to travel so enthusiastically to places that are considered hopelessly overrun by tourists, such as Amsterdam or Venice? My colleague Philipp Laage has written a clever text on the phenomenon of "overtourism".

"If you're not on your way to a new, exciting destination, you might assume, you're missing out on life," he says, describing the motives of many travelers. "And in the uncertain present with the climate crisis and all kinds of other global catastrophes, doesn't it seem increasingly unattractive to leave something to the world that goes beyond one's own life?"

However, Philipp pleads for more thorough thinking before starting the journey. "If we just rattle off one highlight after the next on a journey like driven people, it doesn't change anything in us," he writes. "It would be helpful to ask ourselves which goals we are really interested in. And then staying longer in one place and diving deeper. All in all, this means travelling less often and visiting fewer places, withdrawing from the experience orientation but learning more.«

• Read more here: Number of holidaymakers is falling – and yet the industry is booming

What else is important today

• Rammstein frontman Till Lindemann loses legal battle against »Süddeutsche Zeitung«: The Regional Court of Frankfurt considers the publication of the »SZ« with allegations about the band Rammstein to be admissible. Lindemann's lawyer announced to SPIEGEL that he would appeal.

• Federal President honours school in Bavaria: A stimulating learning environment – and prospects for disadvantaged children: The Eichendorff School in Erlangen has been awarded the German School Prize 2023 by Federal President Steinmeier.

• Climate activists put concrete blocks in front of ministry and dump paint on highway: Blocked roads, paint on the A100 – and an action in front of the Federal Ministry of Finance: Climate activists have triggered several police operations in Berlin. They also wanted to commemorate a success in the Netherlands.

My favorite story today: Bundeskunsthalle Bonn discovers unknown painting in exhibition

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Photograph:

Art and Exhibition Hall of the Federal Republic of Germany

Art history is full of funny pretensions and audacity, which is why I particularly liked what was reported from the Bundeskunsthalle Bonn today. There, while hanging an exhibition, it was discovered that a foreign picture had been hung unnoticed with the exhibits. "Who we are" was the title of the show. The added painting is portrait and depicts a naked woman with long dark hair and dark lips. On Instagram, the Bundeskunsthalle people wrote about the picture: "To be honest, we think it's pretty funny and would like to know more about it." I find both the chutzpah of the artist and the picture very pretty, and I'm curious to see who painted it.

What we recommend today at SPIEGEL+

• "We have to actively defend ourselves in order not to become mobile phone zombies": Many people are glued to their smartphones longer than they would like – thanks in part to clever tricks used by tech companies. A neurobiologist explains what our Stone Age imprint has to do with it and how to overcome it.

• How reliable the rectal palpation examination against prostate cancer really is: The urologist palpates a hardening in the prostate gland. Is this cancer? Most of the time not, a recent analysis shows. Experts are calling for early detection to be reformed.

• Ugh, the hub doesn't growl anymore: Changing gears while pedalling, always shifting gears with precision – everything is possible, promise manufacturers of electronic gearshifts. They are also gaining ground on everyday bikes. But how much convenience do buyers get for their money?

What is less important today

In Praise of Naturalness: The American actress Pamela Anderson, 56, stepped into the spotlight without make-up at a gala at Milan Fashion Week and received a lot of praise from various colleagues. "This is a powerful message for women," Scarlett Johansson told an online magazine, while actress Jamie Lee Curtis wrote on Instagram: "I am so impressed and overwhelmed by this act of courage and rebellion."

Mini Concave Mirror

Here you can find the whole concave mirror.

Cartoon of the Day

And tonight?

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Author: Van Reybrouck

Photo: Marco Destefanis / IPA / picture alliance

Could you read a clever book, for example »Congo« by David Van Reybrouck. The Belgian Reybrouck, it was announced today, will be awarded the Geschwister-Scholl Prize this year.

My colleague Sebastian Hammelehle wrote about "Congo": "David Van Reybrouck's work comprises almost 800 pages, including notes and footnotes. And yet reading it captivates you – precisely because this is one of the exemplary catastrophes of the 20th century, which repeatedly overlaps with the other great historical lines of our era.«

Have a nice evening.

Heartily

Yours sincerely, Wolfgang Höbel, Author in the Department of Culture