The US national debt has exceeded 36 trillion US dollars, which is equivalent to an average debt of 107,400 US dollars per person in the United States. Unknowingly, the US national debt has increased by 2 trillion US dollars in less than a year. At the end of November this year, the US federal debt exceeded 36 trillion US dollars for the first time. This scale was only 23.64 trillion US dollars in 2014, ten years ago.

According to data released by the U.S. Treasury Department, the total U.S. debt reached 34 trillion U.S. dollars in early January 2024, and reached 35 trillion U.S. dollars at the end of July this year, after a lapse of 7 months. It took only about 3 months from 35 trillion U.S. dollars to the current 36 trillion U.S. dollars, and the growth rate of the U.S. debt scale is obviously accelerating. It is estimated that the trillion U.S. dollars of U.S. debt from 34 trillion to 35 trillion was formed at an average daily rate of 0.014% in 211 days, so the trillion U.S. dollars from 35 trillion to 36 trillion has grown at a rate of 0.025% per day. In other words, at the current rate of growth of U.S. debt, the total U.S. debt will increase by 8.7 billion every 24 hours.

Although it is not a bad thing for the government to issue bonds for economic expansion, even the United States, the world's largest economy, finds it difficult to digest the astronomical figure of 36 trillion US dollars. It is said that it is easy to borrow money but difficult to repay it. In 2024 alone, the US federal government's expenditure on repaying the interest on US debt will reach 882 billion US dollars. Compared with the interest expenditure of 659 billion US dollars in 2023, the growth rate of US debt interest expenditure in 2024 will reach 33.8%.

In the future, curbing the expansion of the US debt may face many obstacles. On December 20, the US short-term appropriations bill will expire. If new funds cannot be raised, the federal government will face the risk of shutdown. In January next year, the bill to suspend the US government's debt ceiling will expire, but at the same time, the two presidents of the Democratic and Republican parties in the United States will be handing over their work. How long it will take for the two parties to reach an agreement on the debt scale, and whether the government can continue to work before reaching an agreement, everything is unknown.

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Article forwarded from: Jinshi Data