American debt will reach 50 trillion dollars
Currently, the US debt ceiling has exceeded $31.4 trillion, and the amount of US national debt is expected to increase by another $20 trillion over the next decade, exceeding $50 trillion. According to this forecast, the amount of public debt in the USA has reached the considerable figure of 33.6 trillion dollars, but considering the speed of financial growth in the 2020s, it is possible that this figure will increase by 5.2 dollars per day in the next decade:
54 trillion dollars by 2033. According to Bank of America, one of the factors leading to a further increase in debt in this country is the increase in the budget deficit, which this year increased by 320 billion dollars to 1 .7 trillion dollars and forced the Treasury Department of this country to spend trillions of dollars, sell bonds. In addition, the interest rate increase also caused bonds to rise, which usually causes pressure on the Federal Reserve's balance sheet and increases the budget deficit.
"Michael Hartnett", an investor at Bank of America, announced: US government debt is greater than the combined gross domestic product of China, Japan, Germany and India. According to this report, the US government has increased the debt ceiling, that is, it has raised the ceiling which was previously 31.4 trillion dollars, and this issue allows the government of this country to increase the amount of its debt l 'next year.
The fear of a United States default shakes the financial markets. From Asia to Europe, the stock markets all closed in the red: the Old Continent burned 227 billion euros with Milan in the black, which closed the session down by 2.39% and saw 14 billion go up in smoke. Wall Street is also heavy, where investors' eyes are focused on the White House while behind the scenes we are preparing for the worst. Negotiations between US President Joe Biden and the Speaker of the House, Kevin McCarthy, continue even if an agreement is still far away. Meanwhile, June 1st has been identified by Treasury Secretary Janet Yellen as possible day X of default, the exact day on which the United States risks no longer being able to honor its financial commitments.
Bank of America
