US public debt reaches new historical record

Thus, the total public debt amounted to 23 008 410 000 000 USD at October 31, 2019, said the Treasury in a statement last night.

According to the EFE news agency at the time of publication of a specialized newspaper of the country of North America, "the debt has increased by about 16% since the arrival at the power of US President Donald Trump in January 2017 when he stood at $ 19.9 billion ".

The State Department revealed that the US budget deficit had increased by 26% during the 2019 fiscal year (September 2018 – October 2019) to reach $ 984 billion, the highest figure ever. high in seven years.

The fiscal imbalance as a percentage of gross domestic product (GDP) increased from 3.8% in 2018 to 4.6% this year.

In 2017, the fiscal imbalance was USD 666 million and last year USD 779 million.

During the election campaign, the current Republican President has repeatedly criticized the deficit of his predecessor, Democrat Barack Obama. However, After Trump's first three years in office, the US deficit has increased by almost 50%.

The record deficit was reached in 2009 with US $ 1.4 trillion in the midst of the economic crisis that followed the bursting of the financial bubble and as part of the multi-million dollar fiscal stimulus provided by the Obama administration to bail out the economy.

A budget agreement reached in the middle of this year between Congress and the executive branch increased the government's spending capacity by USD 320 million and removed the debt ceiling until July 31, 2021, after the 2020 elections. .

2020