US public debt exceeds $ 22 trillion

[yota691]

US public debt exceeds $ 22 trillion

 

Arab and international Economy News _ Baghdad US public debt exceeded for the first time ever $ 22 trillion, what experts saw as evidence that the country was on an unsustainable financial path that could endanger the economic security of every American.  The US Treasury Department said on Tuesday that the public debt of the United States amounted to 22.012 trillion dollars, an increase of 30 billion dollars from last month.  US media reported that US debt rose more quickly after passing a tax law, more than a year ago the US economy was costing $ 1.5 trillion, which included severe tax cuts, which President Donald Trump had promised to implement.  In addition, Congressional efforts to increase spending on domestic and military programs have added more than $ 1 trillion in debt over the past 11 months alone. "Getting to this unfortunate point so quickly is the latest sign that our financial situation is not only unbearable but is rapidly worsening," said Michael Peterson, chief executive of Peter J. Peterson, a non-partisan organization to address the challenges facing the United States. .  Peterson attributed the growing public debt to the "lack of structural consensus between spending and revenue," pointing out that the biggest factors affecting this is increasing the aging population, rising health care costs, and increasing interest payments. Other economists say that growing public debt should be a cause for concern. For Americans, it means that interest rates for consumers and companies will rise over time and could affect government spending. When debt is large the government may be unable to raise spending to counter the next recession, Or allocate more funds to rehabilitate labor hands and help the poor. Views 9   Date Added 13/02/2019

[bostonangler]

No problem trickle down economics will save us...

 

B/A

[yota691]

On 2/13/2019 at 8:51 AM, bostonangler said:

No problem trickle down economics will save us...

So glad we have a Real President. the past president an his shovel ready jobs never amount to anything., considering Obama double that debt from 11 Trillion to 21 Trillion. But Trump did find that magic wand that Obama said didn't exist.