It would be hard to believe that the top nation United States of America is in huge debt. The world’s superpower which has a huge economy also has a similar range of debts, this was revealed by the nation’s treasury department. It says that the nation was into utter deep trouble after the Coronavirus pandemic hit hard.
According to the latest data released by the Treasury Department, the debts crossed the mark of $30 Trillion (22.45 lakh crores). From January 2020 to the present, the national debt has increased by about $ 7 trillion, which is alarming. Along with former President Donald Trump, the current President Joe Biden has also spent huge sums to recover from the corona crisis.
The country’s economists are worried about the fact that the superpower is now in huge debts. They say that this will be a huge problem for the nation. World’s leading economic strategist David Kelly on this occasion has estimated that the interest on the current debt alone would cross $5 trillion in the next ten years.
