Driven in most parts by a response to the coronavirus pandemic, U.S. national debt has surged more rapidly than projected in recent years. As of Monday, the total public debt outstanding reached $30,012,386,059,238.29, an increase of nearly $7 trillion since January 2020, an amount equivalent to 13.3% of the total global debt. Since January 2020 the U.S. has printed 80% of all U.S. dollars in existence.
Reaching levels not seen since World War II, the debt as a share of the economy reached 100% in 2020. The overall debt is split into two categories: so-called intragovernmental holdings, to the amount of $6.5 trillion of the gross national debt, is debt that the government owes to itself, and $23.5 trillion in debt held by the public and thus owed by the U.S. government to outside creditors.
Passing the milestone of $30 trillion comes as a surprise to few. Some budget watchers have been warning that the nation’s fiscal path was unsustainable even before the government spent some $5 tr
We współpracy z: https://cryptoslate.com/u-s-debt-hits-30-trillion-brrrrr/
