🚀The public debt of the United States has recently surpassed a historical record of 40 trillion dollars, equivalent to more than $117,000 per resident. This financial volume already exceeds 120% of the country’s Gross Domestic Product (GDP), and its annual interest-payment cost surpasses one trillion dollars—a figure greater than the combined economies of several global powers.
The rapid growth of this deficit is mainly due to the massive economic stimulus measures granted during the pandemic, the increase in the costs of social programs due to the aging population, and the high current interest rates, which make financing the government’s new obligations more expensive.
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The rapid growth of this deficit is mainly due to the massive economic stimulus measures granted during the pandemic, the increase in the costs of social programs due to the aging population, and the high current interest rates, which make financing the government’s new obligations more expensive.
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