New York: America, the world’s largest economy and powerful country, is now in debt. In the last few years, America’s debt has increased exponentially and so fast that the United States has also borrowed heavily from India. Total US debt has risen to 29 29 billion, with India borrowing ભારત 216 billion. At present, every American has a debt of, 72,309 per capita. In 2020, the total debt of the United States was, 23,400 billion. Debtors America’s creditors are China and Japan, and the world’s most powerful countries have borrowed the most money from them.
“Our total debt is rising to 000 29,000 billion,” said Alex Mooney, an American lawmaker. That is, debt is rising on every American citizen. The information on debt is scary and saying that two countries China and Japan are our biggest creditors, they are not in fact our friends.
The US owes China 1000 1,000 billion
Opposing the Biden government’s nearly બે 2,000 billion economic relief package in the US House of Representatives, MP Mooney, who represents West Virginia, said the global rivalry is with China. China owes the United States a whopping 1000 1,000 billion or more. So Japan owes 1000 1000 billion. “The countries that are lending money to us also have to repay their debts,” he said. These countries do not necessarily care about our interests. We owe 26 268 billion to Brazil. India owes our country 21 216 billion. This list of American foreign creditors is long.
Let it be doubled under the Obama administration
In 2000, the United States had a debt of 00 5600 billion. The debt doubled during Omaha’s rule. US President Joe Biden announced a 00 1900 billion Covid-19 relief package in January to protect the economy from the adverse effects of the epidemic. Mooney and other opposition lawmakers have opposed the relief package.
Mooney said America’s debt has doubled in the eight years of former President Obama’s administration. The ratio of debt and gross domestic product is going beyond the limit.