look news india
USA Economy- Debt increasing day by day: The debt of America, the world's top and strongest economy, is increasing day by day. It has been told that the debt is increasing continuously because the US government has spent heavily to overcome the crisis created after the Covid pandemic. The debt of the US federal government has increased from $35 trillion to $2.5 trillion. After 2019, it has increased by $13 trillion. Which is three times more than India's economy.
America's debt to GDP ratio has reached 122 percent. It has increased by 19 percent in the last five years. The federal government's debt has never increased so rapidly in American history. The situation is such that America has to cut down on other expenses to reduce its debt.
America's debt increased every three months
America's debt is increasing by about $1 trillion every three months. On January 4 this year, it reached $34 trillion. Earlier, on September 15 last year, it was $33 trillion and on June 15, it was $32 trillion. It took eight months to increase from $31 trillion to $32 trillion. The amount that the US federal government borrows to meet its expenses is known as US debt. It is increasing rapidly. If the debt continues to increase, it will be 166 percent of the country's GDP in 2054.
How much loss?
Government revenue in America is continuously falling and expenditure is increasing. According to experts, the continuous increase in debt is not good for the country's economy and national security. If this continues, America will have to pay $ 1.8 billion as interest every day. So the US economy will sink as soon as the interest is paid. The government may have to pay more money in interest than the total expenditure on research and development, infrastructure and education. It is worth noting that after the Covid pandemic, the country's economy is now in a good condition. Unemployment has reduced.