Latest America’s Debt Report: The debt of the USA, the country with the world’s largest economy, has been continuously increasing for the last several years. At present America’s debt has reached 34.2 trillion dollars. See complete details.
Latest America’s Debt Report:
According to the budget documents of the US Congress, America’s debt has reached $34.2 trillion and is expected to reach $54 trillion in the next decade. Let us tell you that increasing the debt of any country is bad for its economy and national security. America’s current debt is about 125% of the country’s GDP. In the last three months alone, it has increased by more than one trillion dollars. Let us know the complete history of America’s increasing debt.
Tremendous increase in America’s Debt:
America’s debt has increased by more than $10 trillion in the last three years alone. America’s debt has increased six times in the last 24 years. America had a debt of $5.7 trillion in 2000, $12.3 trillion in 2010, and $23.2 trillion in 2020. At present, America has to spend 1.8 billion dollars every day in interest payments. According to experts, America’s debt-to-GDP ratio can reach 200 percent within a few years, which is very dangerous for America’s economy.
USA Debt Latest News Update:
According to experts, America’s debt is increasing at a time when its economy is not in good condition and the unemployment rate is high. Let us tell you that whenever the economy of a country is weak, the government of that country increases expenditure so that growth can be increased. In June last year, America had reached the threshold of default. This situation is happening once again.