Democrats and Republicans agreed to ignore the size of the US national debt and budget deficit. The deputy editor-in-chief of the newspaper wrote this Wall Street Magazine (WSJ) James Freeman.
He said the Democratic and Republican parties essentially agreed to ignore World War II-era U.S. debt levels and large annual budget deficits unless there was a national emergency.
Freeman expressed the view that the winner of the upcoming presidential election will have to spend much less money than he promised during the election campaign.
The journalist emphasized that the United States cannot afford to become Argentina, and suggested that with such a large national debt, Americans should not only hope but also pray.
October 22 American entrepreneur Elon Musk statedThat the United States may face bankruptcy due to high government spending.
Global government debt in 2023 overcome The $100 trillion mark. About a third of this debt is in the United States. In July of this year, US debt increased for the first time in history exceeded 35 trillion dollars. Accordingly predictions According to analysts, the size of America’s national debt could reach $54 trillion in the next decade.
Formerly US Treasury reported It’s about the growth of the budget deficit.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.