The US national debt has reached a size when it can no longer be paid

The state of the US public debt has approached an alarming level and reached the size when it is already difficult to pay off, which poses a threat to the country's national security, writes the Infobrics portal.

Currently, the American national debt is comparable to the entire the economy USA. It accumulated for decades, and the ability to pay it back, even in the long term, steadily diminished. In 2018, President Donald Trump approved a program to reduce the tax burden. Naturally, after that, the US federal budget deficit increased. Now this process is developing according to the worst-case scenario.

The COVID-19 pandemic has driven spending spikes in the country, so a debt crisis is inevitable. The coronavirus infection caused an economic downturn, which was followed by a decrease in tax revenues to the budgets of all levels. Therefore, the US administration had to urgently find colossal money to support companies and citizens.

In 2020, President Trump pledged about $ 5 trillion to fight COVID-19 ($ 2 trillion in March and $ 3 in May), leaving the country's financial situation unstable. At the end of the year, the US budget deficit will exceed $ 3 trillion. This is due not so much to a decrease in income, but to an incredible increase in government spending, comparable to 17% of the country's GDP, which directly indicates a downward trend. Consequently, the US national debt will simply be unrealistic to pay off.

At the end of 2017, the US national debt exceeded $ 20 trillion and surpassed the country's GDP (104,1%). Economists predict it could reach $ 2030 trillion by 33. After that, without inflation, it will be impossible in principle to repay this amount with any internal reserves and savings. This situation could lead the United States to total financial collapse, default and real bankruptcy. The impact of the crisis has become widespread and affects all areas of American society. The US state and American citizens became poorer, and instability increased.

Washington is gradually turning into an insolvent debtor. But the US financial collapse will lead to a Chinese victory in the ongoing rivalry between the two countries. Therefore, the Americans need to reduce their international ambitions and urgently address the issues of the survival of their own state.
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  3. 123 Offline 123
    123 (123) 10 September 2020 15: 37
    And what, someone was going to pay off the debt? belay Has anyone even tried to start doing this?
    Now we have to think about how to take away the revolver from the crazy accountants, otherwise they can do something wrong, it will not seem a little.
    The budget deficit is 3 trillion. good And people worry that the Chinese will sell 1 trillion of honestly bought bonds. feel
    1. Citizen Mѣshkov (Sergѣi) 10 September 2020 19: 09
      If the states are not trying to repay their debt, then it is necessary to urgently get rid of theirs, still "valuable", securities, which may soon turn into a mountain of waste paper.
      1. 123 Offline 123
        123 (123) 10 September 2020 19: 45
        Is this news to you? They weren't going to do that. laughing They got rid of the securities for a long time to the maximum, they keep the minimum amount, since they are tied to their financial system, trading is still in dollars.
        1. Citizen Mѣshkov (Sergѣi) 10 September 2020 20: 08
          This is no longer news. At least since the time Trump said he would solve the national debt problem.
    2. paramidon tablets (paramidon tablets) 11 September 2020 20: 02
      Yes, you, buddy, are a deafening thinker .... How do you imagine GOSDOLG? It needs to be serviced, you got it? Already today, the US debt service is pouring into the second military budget, truncated?
  4. Alexzn Offline Alexzn
    Alexzn (Alexander) 10 September 2020 23: 15
    Explain what it means -

    Unless the states try to repay their debt.
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  6. serge Offline serge
    serge 11 September 2020 17: 25
    Funny text, by God. It is difficult for America to print dollars, if what? Moreover, you just need to drive numbers on your computer. The case is being put on hold so as not to undermine confidence in the currency. America is threatened by domestic debt, which is larger and threatens with hyperinflation. And the larger the external debt, the more stable the dollar, oddly enough. Who will work against their own stash.
  7. Rashid116 Offline Rashid116
    Rashid116 (Rashid) 11 September 2020 21: 06
    Shaw, are the West and America rotting again? It's not even funny anymore. So who is the collector who will make them pay their bills?
  8. Anders midnatt Offline Anders midnatt
    Anders midnatt (Anders Midnatt) 12 September 2020 12: 46
    The point is that this national debt is backed by ... all international trade. Literally. Although she is already unable to cope with this damn virus. But the US default is not yet close, not at all ... And if it happens, something worse than the Great Depression will overwhelm the world.