[Tue, 30 Jul 2024 22:13:05 +0300]

WASHINGTON July 30. 2024 (Saba) - The US public debt today reached a new historical level, exceeding $35 trillion, equivalent to 122.5 percent of the US gross domestic product.

Local media reports indicated, on Tuesday, that the huge debt is a huge burden on the US budget, as its service accounts for 15 percent of US budget expenditures, and in general, more than 76 percent of taxes collected from individuals are spent on paying debt obligations in the United States.

This means that the US president, who will be elected this year, will lead a country whose economy largely works on servicing existing debt.

Since 2019, the US federal debt has increased by $13 trillion, and now constitutes 122.5 percent of the US gross domestic product.

Z.E

Facebook

Whatsapp

Telegram

Email

Print

more of (International)

Iran: Change in Negotiation schedule based on Omani Foreign Minister Proposal Zionist enemy stormed village of al-Walaja, northwest of Bethlehem Barcelona, Inter Milan Draw in First Leg of Champions League Semi-final Gold prices fall by about 2 % Palestinian prisoner Hassan Salama suffers direly inhumane conditions Argentine League: Atletico Tucuman defeats Independiente 2-0 Enemy Media: Fires Spread in Al-Quds Hills Israeli army increasingly commits crimes against detained workers MSF warns of complete halt to medical activities in Gaza Former South Korean President Yoon faces additional abuse of power charge