August 25, 2019, 23:51


Capitalism Run Amok: US National Debt at $21 Trillion

Capitalism Run Amok: US National Debt at $21 Trillion

Capitalism Run Amok: US National Debt at $21 Trillion
©
AP Photo/ Jacquelyn MartinBusiness01:10 18.03.2018(updated 01:14 18.03.2018) Get short URL34984

The US, the world’s leading debtor nation, has reached another questionable milestone in its seemingly headlong rush into economic oblivion.

The combined debt of the United States has topped $21 trillion for the first time, according to government statistics, following an announcement a mere six months ago that the debt had hit $20 trillion for the first time.

US President Donald Trump in February signed a letter to end the suspension of debt-limits, which now permits unlimited borrowing until March 1, 2019, according to Marketwatch.com.

While a much wider US budget deficit is predicted by economists following the new December 2017 Trump tax cut, the rapid pace of large-scale borrowing has surprised many, as Washington’s February $215 billion deficit is up 12 percent from the same month last year.

The unprecedented debt figure is only the beginning, claimed
Peter Peterson, an investment banker and former United States Secretary of Commerce under US President Richard Nixon.

“Our national debt reached a staggering $21 trillion today, having grown by $1 trillion in just the past six months,” Peterson noted, according to the Washington Examiner.

“Worse yet, this unfortunate milestone has only just begun to include the effects of the recent fiscally irresponsible tax and spending legislation, which added more debt on top of an already unsustainable trajectory.”

Sourse: sputniknews.com

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today08/25/2019
19℃

Mon
08/26/2019
sky is clear

  • sky is clear
  • HI/LO: 21/10
  • Clouds: 2%
  • Wind: 3.09 m/s
  • Wind Direction: WSW
  • Pressure: 1027hPa
  • Humidity: 55%

Tue
08/27/2019
light rain

  • light rain
  • HI/LO: 20/10
  • Clouds: 21%
  • Wind: 5.65 m/s
  • Wind Direction: NNW
  • Pressure: 1018hPa
  • Humidity: 52%

Wed
08/28/2019
few clouds

  • few clouds
  • HI/LO: 14/7
  • Clouds: 11%
  • Wind: 5.83 m/s
  • Wind Direction: N
  • Pressure: 1025hPa
  • Humidity: 53%

Thu
08/29/2019
scattered clouds

  • scattered clouds
  • HI/LO: 14/5
  • Clouds: 34%
  • Wind: 3.85 m/s
  • Wind Direction:
  • Pressure: 1028hPa
  • Humidity: 52%

Fri
08/30/2019
broken clouds

  • broken clouds
  • HI/LO: 15/9
  • Clouds: 65%
  • Wind: 3.67 m/s
  • Wind Direction: E
  • Pressure: 1026hPa
  • Humidity: 76%

Sat
08/31/2019
broken clouds

  • broken clouds
  • HI/LO: 21/9
  • Clouds: 80%
  • Wind: 2.6 m/s
  • Wind Direction: W
  • Pressure: 1028hPa
  • Humidity: 58%

Сторонняя реклама



Статьи
Статьи В
Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
Яндекс.Метрика