$BTC The American Debt: The Story of Endless Trillions 🤔
The American debt has surpassed 34 trillion dollars! 💰 This figure is shaped by government spending (on defense and healthcare) exceeding its tax revenues, leading to a growing deficit year after year. 📈
Who owns this debt? Not only American citizens and investors but also foreign governments like Japan and China, tying the entire world economy together. 🌏
To add to the complexity, Congress sets a "debt ceiling," and reaching it sparks intense political debates. 🏛️ This situation affects everyone, as it can increase borrowing costs for citizens and businesses.
The solution remains a topic of ongoing debate: should spending be cut or taxes increased? ⚖️