https://sputnikglobe.com/20220202/us-national-debt-hits-record-high-of-over-30-trillion-treasury-department-says-1092674919.html
US National Debt Hits Record High of Over $30 Trillion
US National Debt Hits Record High of Over $30 Trillion
Sputnik International
MOSCOW (Sputnik) - The national debt of the United States has reached a record high of $30.012 trillion amid a significant increase in government borrowings... 02.02.2022, Sputnik International
2022-02-02T06:06+0000
2022-02-02T06:06+0000
2022-02-02T14:04+0000
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The debt shows almost a $7 trillion rise compared with late January 2020, when COVID-19 had not yet hit the US economy.Financial experts interviewed by US media said the new maximum was reached several years earlier than the country's authorities predicted as a result of trillions spent on fighting the pandemic. According to the New York Times, the additional expenses in recent years included increased amounts of the unemployment benefit, enhanced support for small businesses and incentive payments.Some economists argue that the record US national debt does not indicate a problem, since the country's economy continues to grow despite the COVID-19 pandemic, and the interest rate remains low.
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US National Debt Hits Record High of Over $30 Trillion
06:06 GMT 02.02.2022 (Updated: 14:04 GMT 02.02.2022) MOSCOW (Sputnik) - The national debt of the United States has reached a record high of $30.012 trillion amid a significant increase in government borrowings due to the COVID-19 pandemic and additional costs of supporting health care, according to data released by the US Department of the Treasury.
The debt shows almost a $7 trillion rise compared with late January 2020, when COVID-19 had not yet hit the US economy.
Financial experts interviewed by US media said the new maximum was reached several years earlier than the country's authorities predicted as a result of trillions spent on fighting the pandemic. According to the New York Times, the additional expenses in recent years included increased amounts of the unemployment benefit, enhanced support for small businesses and incentive payments.
Some economists argue that the record US national debt does not indicate a problem, since the country's economy continues to grow despite the
COVID-19 pandemic, and the interest rate remains low.
