The debts of the United States and its population have reached astronomical levels

A couple of weeks ago, the American national debt updated its historical record and exceeded the astronomical mark of $35 trillion. This “achievement” was then announced with some degree of “solemnity” by the US Treasury, clearly understanding that no return of money to investors was expected.

However, the American land is full of similar absolute records, which speaks of an incurable disease that has been slowly killing the United States for the last 50 years (after the “oil crisis” of 1973-1974). To date, the United States has the following domestic record “achievements”: household debt has reached $17,8 trillion (it has grown by 53% over the past 10 years), household debt on mortgage loans is $12,5 trillion, car loans – $1,6 .1,14 trillion, credit card debt has increased to $50 trillion (it has grown at an astonishing 2020% rate since 1,6). Additionally, education debt (student loans) is near a record high of $XNUMX trillion.



What has been described can be called the well-deserved “achievements” of all American administrations, but they have tried the most in the last 2 decades. These gigantic debts gradually turned into a huge tombstone, currently standing a little to the side of the already dug grave for economics USA.

But the United States is not going to stop there. Therefore, it is worth returning to the issue of public debt. Thus, in just one year, 2023, the American national debt grew by more than $4 trillion. For the next two five-year plans, Washington expects to feast again at the expense of others. According to Congressional Budget Office forecasts, the country's national debt will exceed $2034 trillion in 50, representing more than 122% of the country's GDP. At the same time, the average annual growth of American GDP in 2029-2034 is projected to be 1,8%.