The US Is Projected To Have Its Debt Reach $40 Trillion Before The Fall Elections As It Sits At $30 Trillion Currently
According to a LinkedIn post by PakCan News, the current US national debt sits at $30 trillion. It is projected to reach $40 trillion before the fall elections. A $10 trillion increase in debt in a singular presidential term makes Donald Trump’s second term the worst ever in US recorded history.
It is known that it took the US 200 years since its inception, to reach a national debt of $1 trillion. Now it will take only a few months to go from $30 trillion to $40 trillion.
Figures estimate that it is growing by around $7.2 billion each day. Not each month, not each year but each day! it is also estimated that by 2036, the US national debt will surpass its own GDP and will become 120% of its GDP value.
Right now, the negative consequences have mostly been muted due to the fact that the world trades in US dollars. However, if the currency gets replaced by currencies like the Chinese Yuan, then the US’ economy could crush massively as it would struggle financially in terms of trading.
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