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According to a report, the debt burden on the world’s largest economy has reached $ 29 trillion.
The global economy has been severely affected due to Corona. The American economy is also affected by this. The American economy is about 7 times larger than India and is worth $ 21 trillion. According to a report, the debt burden on the world’s largest economy has increased to $ 29 trillion. This is about 10 times more than the Indian economy. The US has also taken a loan of $ 216 billion from India. The national debt on the US in 2020 was $ 23.4 trillion. According to this, every American had a debt of 72,309 dollars.
After this report, every American currently has a debt of about 84,000 dollars. US Congressman Alex Mooney said that America has taken the maximum loan from China and Japan, which is not even its friend. Mooney said that China has always been a competition for America. It has taken a loan of $ 1-1 trillion from both China and Japan. Considering the increasing debt burden, Congressman Mooney has opposed a new relief package of $ 1.9 trillion. Brazil also has a debt of US $ 258 billion in the US. In 2000, the US had a debt of $ 6 trillion, which doubled during the Obama regime.
An additional debt of $ 104 trillion to be made by 2050
Mooney said that Obama was the President of the country for eight years and the debt burden increased very fast during his reign. Congressman Mooney has also appealed to other MPs to consider it before approving the new relief package. He even said that the Congressional Budget Office estimates that by 2050, the US will borrow $ 104 trillion more. This is a very frightening figure.
India will take a loan from the 12 lakh crore market
Talking about India, the government has decided to take a 12 lakh crore loan from the market in this budget for the financial year 2021-22. At present, the total debt on the government is 147 lakh crore rupees. After the announcement of taking a loan in the new financial year, this figure becomes 159 lakh crore. The economy has been projected to decline by 7.3 percent in the current financial year. Explain that for the current financial year 2020-21, the government has estimated the fiscal deficit to be 9.5 percent of GDP. This deficit estimate has been kept at 6.8 percent of GDP for the next financial year 2021-22.
