US Debt Officially Climbs Above $100,000 Per American
The US national debt is growing at an unprecedented rate after Joe Biden signed a bill that suspended the government’s $31.4 trillion ceiling. The bill came into effect in June this year and the US national debt shot up to $33 trillion this month in October. It rose by $1.2 billion per hour for the past 19 days, according to insight provider Tier1 Alpha. This means that the US debt spiked $28 billion per day in the last three weeks.
Also Read: U.S. Continues Funding 2 Foreign Wars Despite Being $33 Trillion in Debt
The US Debt Is Now $100,000 Per American
The government debt currently stood at a staggering $33.56 trillion on Thursday leading to an uncontrolled rise. Estimates show that the debt totals $100,000 per American citizen, including children in October 2023.
Additionally, the Congressional Budget Office (CBO) estimates that the debt could increase every day by $5.2 billion. CBO forecasts the debt held by the public could reach 118.9% of the Gross Domestic Product (GDP) by 2033. This is the highest the US has reached as historically, it remained much lower in 1960 (52.3%), 1980 (34.69%), and 2000 (55.87%).
Also Read: BRICS Is Now Richer Than G7 Countries
CONGRATULATIONS TO ALL AMERICANS
— GURGAVIN (@gurgavin) October 18, 2023
THE GOVERNMENT DEBT PER CITIZEN HAS NOW OFFICIALLY CROSSED OVER $100,000
THE US NATIONAL DEBT NOW SITS AT $33.5 TRILLION DOLLARS pic.twitter.com/SqZ6o2SF3v
Nonetheless, other countries are also drowning in debt as China could reach 83%, and the UK 100.5%. The development is worrisome as the ratios are only increasing and could destabilize the markets. The US is also funding two endless foreign wars despite being $33 trillion in debt.
Also Read: BRICS: Payments in U.S. Dollar Decline By 25%
The Biden administration has sent $75 billion to Ukraine to help the country fight against Russia. Also, the White House sent $3 billion to Israel to help it fight Palestine. Israel is also asking the US $10 billion in aid to take on the enemy.
Read here to know how US military stocks experienced a $100 billion rout this month. In conclusion, politicians are sending aid to foreign countries and showing less interest in bringing the crisis under control.
Read More
US Debt Officially Climbs Above $100,000 Per American
The US national debt is growing at an unprecedented rate after Joe Biden signed a bill that suspended the government’s $31.4 trillion ceiling. The bill came into effect in June this year and the US national debt shot up to $33 trillion this month in October. It rose by $1.2 billion per hour for the past 19 days, according to insight provider Tier1 Alpha. This means that the US debt spiked $28 billion per day in the last three weeks.
Also Read: U.S. Continues Funding 2 Foreign Wars Despite Being $33 Trillion in Debt
The US Debt Is Now $100,000 Per American
The government debt currently stood at a staggering $33.56 trillion on Thursday leading to an uncontrolled rise. Estimates show that the debt totals $100,000 per American citizen, including children in October 2023.
Additionally, the Congressional Budget Office (CBO) estimates that the debt could increase every day by $5.2 billion. CBO forecasts the debt held by the public could reach 118.9% of the Gross Domestic Product (GDP) by 2033. This is the highest the US has reached as historically, it remained much lower in 1960 (52.3%), 1980 (34.69%), and 2000 (55.87%).
Also Read: BRICS Is Now Richer Than G7 Countries
CONGRATULATIONS TO ALL AMERICANS
— GURGAVIN (@gurgavin) October 18, 2023
THE GOVERNMENT DEBT PER CITIZEN HAS NOW OFFICIALLY CROSSED OVER $100,000
THE US NATIONAL DEBT NOW SITS AT $33.5 TRILLION DOLLARS pic.twitter.com/SqZ6o2SF3v
Nonetheless, other countries are also drowning in debt as China could reach 83%, and the UK 100.5%. The development is worrisome as the ratios are only increasing and could destabilize the markets. The US is also funding two endless foreign wars despite being $33 trillion in debt.
Also Read: BRICS: Payments in U.S. Dollar Decline By 25%
The Biden administration has sent $75 billion to Ukraine to help the country fight against Russia. Also, the White House sent $3 billion to Israel to help it fight Palestine. Israel is also asking the US $10 billion in aid to take on the enemy.
Read here to know how US military stocks experienced a $100 billion rout this month. In conclusion, politicians are sending aid to foreign countries and showing less interest in bringing the crisis under control.
Read More