U.S. Public Debt Reaches New Record
Photo: Internet
Published at: 16/11/2024 02:23 PM
US Debt Clock.org, a website that follows the evolution of the debt of the United States (USA), published that the public debt of that nation exceeded 36 trillion dollars this Friday for the first time in history.
During the month of June of this year, the Congressional Budget Office predicted that by 2034 the U.S. national debt will reach 50 trillion and will be equivalent to about 122% of GDP.
According to a publication in Russia Today (RT), the growth is partly attributed to a decision by the current White House tenant, Joe Biden, who raised the debt ceiling in 2023.
It is also known that the debt ceiling is the total amount of money that the U.S. government can borrow to meet its legal commitments, such as the disbursement of social or medical benefits, salaries for the military, interest on the national debt, tax refunds and other payments. The current decision to remove the roof expires on January 1, 2025.
Mazo News Team