The public debt of the United States for the first time in history exceeded 20 trillion dollars.
This is stated in the statement of the Ministry of Finance.
Debt increased from 19.8 to 20.1 trillion dollars after Friday, September 8, President Donald trump has signed a decree on the temporary threshold increase government debt, which allowed unlimited Federal loans.
According to The Hill, huge figure includes debt — $14,623 trillion and $5.5 trillion of domestic debt. This is the amount that one part of government needs the other.
«Exceeding the level of 20 trillion dollars is the latest indicator of the dire financial condition of our country,» said Michael A. Peterson, President and chief Executive Director of Finance Peter G. Peterson Foundation.
According to him, this amount will cause over the next decade, «run across» more and interest in the amount of 6 trillion dollars. He urged Congress to pass a «fiscally responsible» tax reform, which needs to be «bipartisan and neutral».
The Chairman of the Republican study group mark Walker accused in such a situation, the leaders of Congress from both parties and President of the trump.
«Before Congress agrees to increase the national debt threshold we need to pass new laws that will change this disturbing trend,» he said.
Following the increase in debt threshold is expected in March 2018.
