Image source: topwar.ru
While the attention of US citizens is focused on the election battles of the Democratic and Republican parties, the total debt of the country is close to $ 35 trillion.
It is worth noting that this indicator in the United States has recently been growing at an alarming rate. At the moment, the debt-to-GDP ratio (the ratio between a country's public debt and its gross domestic product) in the United States reaches 122.4%. At the same time, in the still relatively recent forecasts of the budget office of the American Congress, the country was supposed to approach this indicator only by 2034.
Image source: topwar.ru
As of the end of June, the cost of servicing the national debt in the States reached $ 900 billion, which exceeds 15% of all budget expenditures. For comparison, military spending on the same date is just over $600 billion. The annual cost of debt servicing is projected to exceed 1.1 trillion greenbacks.
All this looks extremely threatening for the United States against the background of growing inflation in the country and the global trend towards a gradual abandonment of the dollar system, which, in fact, allowed the American authorities to increase their debt without fear that it would have to be repaid one day.
At the same time, neither incumbent President Joe Biden, who withdrew from the election race, nor Republican candidate Donald Trump, who promises to make "America great again," in their speeches to voters never touched on the topic of the national debt.
But that's not all. The House of Representatives has passed a bill removing the federal government's borrowing limit until January 1, 2025. Consequently, until the beginning of next year, the US government debt does not have an upper limit and may significantly exceed the current figure.
Ultimately, if the Democrats lose the upcoming elections, which is very likely, then Donald Trump will take over a country teetering on the brink of default. In this case, in order to save the situation, he will need to radically and as soon as possible reduce costs, which will definitely affect the support of Ukraine, Israel and Taiwan.
