America, the nation that lends money to the world, is in debt and its national debt has exceeded 31 trillion dollars for the first time in history.
With interest rates and inflation at record highs and growing economic instability, the U.S. national debt has surpassed $31 trillion for the first time, the American TV Network website reports.
In this regard, the US Department of Finance says that the total national debt of the US has reached about 31.1 trillion dollars as of last Monday. Infuriated, it forced the US government to borrow money from the domestic economy.
According to the report, since the beginning of 2020, the debt of this country has increased by almost 8 trillion dollars, with an increase of 1 trillion dollars in the last 8 months alone.
A US Treasury report shows that US borrowing levels have increased over the past decade. When Barack Obama took office on January 20, 2009, the US debt was $10.6 trillion, when Donald Trump came to power on January 20, 2017, this number reached $19.9 trillion, and when the current President Biden took office on January 20, 2021. So the size of the debt had increased to 27.8 trillion dollars.
