The national debt of the United States reached $ 21.5 trillion, thereby setting a new record. It is reported by the Washington Examiner.
Over the last fiscal year, the US national debt increased by $ 1.25 trillion. The publication notes that at the end of the 2017 fiscal year, this figure was $ 20.25 trillion.
Over the past 11 months of the current fiscal year, US government loans reached $ 895 billion, which is $ 222 billion more than the same period last year.
By 2020, the US budget deficit will return to one trillion dollars, as it was during Barack Obama’s first term as president. At the same time, as the newspaper notes, it should be borne in mind that the growth rate of debt already exceeds $ 1 trillion a year.
The national debt ceiling was set for March 1, 2019, and the government can borrow any amounts by that date. According to conservatives in Congress, due to the fact that government spending is not limited, the budget deficit will continue to grow in the coming years.