Bad news! President Trump needs to do more to contain or even reduce federal debt! This trend of ever higher government debt is unsustainable!
This is about $117,000 per American!
When the Euro currency was introduced in the EU, a government debt to GDP ratio of higher than 60% was considered to be a serious warning sign of too much government spending!
"The country’s “total public debt outstanding” officially hit $40.047 trillion, the Treasury Department reported—a threshold that carries symbolic weight but isn’t, by itself, economically significant. In recent days, rising long-term government borrowing costs—and a sudden reversal Wednesday after the Treasury announced plans to buy back more long-term debt—have underscored the stakes of what economists broadly agree is an unsustainable fiscal trajectory. ..."
U.S. Debt Just Topped $40 Trillion: How We Got Here "The U.S. has hit a new borrowing milestone, while debt as a share of GDP nears levels last seen during World War II"
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