Why the US Economy Is Ringing Alarm Bells
4 Articles
4 Articles
Why the US economy is ringing alarm bells
What with a 250th birthday, Taylor Swift’s wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer. But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn mark, raising concerns both at home and abroad. How did the we get here? It took almost 200 years for America’s national debt reach $1tn for the first time, says Maya MacGui…
The US has a new debt record of over $40 trillion – a global trend. But the danger is not just in the crowd.
The United States national debt is approaching an unprecedented $40 trillion, with more than $11.5 trillion added during President Donald Trump’s two terms so far, according to data from the U.S. Treasury Department. When Trump first entered the White House in January 2017, the national debt was about $19.9 trillion. Four years later, it had already reached more than $27.7 trillion, a jump of about $7.8 trillion. A significant part of the increa…
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