#Barrish movement is sign ?
*Is teriffwar make #USACryptoTrends bankrupted?
*Is this profitable for #ChiaNetwork ?
After defeating Kamala Harris in the Presidential Election, Donald Trump is all set for his second term as President of the United States. However, this time will not be easy for the businessman-turned-politician, as America's debt has already reached a record high. The debt of the world's largest economy has surged to a staggering USD 36 trillion. This year, the debt has risen by USD 2 trillion. Over the last 316 days, the U.S. debt has increased by USD 6.3 billion daily, which is approximately Rs 5,31,94,85,78,490.
The spiralling national debt in the U.S. has witnessed a huge increase over the past two decades, multiplying six-fold from a mere USD 5.7 trillion at the start of the millennium to an overwhelming USD 23.2 trillion by 2020. According to forecasts based on U.S. Congressional budget records, we could see this debt soaring to a staggering USD 54 trillion in the forthcoming decade. As of now, the national debt stands alarming at 125percent of the total GDP of the country. Consequently, the U.S. government finds itself expending more than a billion dollars each day just to cover the interest on this colossal debt, indicating shrinking government revenues allied with escalating expenses.
What Could the Impact Be?
*UNEMPOLYMENT , * LOAN , *Terrifwar
According to experts, the current situation is not favourable for the country's economy or national security. It is expected that the U.S. debt-to-GDP ratio could reach 200 percent in the next few years. It means the US's debt could become twice the size of its economy. The US government may spend more on interest payments than development, infrastructure, and education combined.
Notably, US debt is increasing at a time when the country's economy is in good condition
