The total US national debt has exceeded 40 trillion dollars for the first time in history.
Modern.az reports with reference to the US media that, according to the US Treasury, the country's total national debt has reached 40.047 trillion dollars.
When this amount is divided by the population of the United States, each American's share of the national debt is approximately 119 thousand dollars. This figure is not the personal debt of individual citizens, but an indicator obtained as a result of the conditional division of the country's total national debt by the population.
The US national debt has grown rapidly in recent years. According to the information, the total amount of debt has increased by approximately 17 trillion dollars since 2020, and by approximately 30 trillion dollars since 2008.
32.3 trillion dollars of the total US debt belongs to the public, and 7.8 trillion dollars to intergovernmental institutions.
The national debt exceeding the 40 trillion dollar limit has also increased concerns about the financial stability of the US economy. Experts particularly draw attention to the rapidly rising costs of debt servicing.
The US national debt was 19.95 trillion dollars at the beginning of 2017. Thus, the country's debt has more than doubled in the last almost 10 years.
Among the main factors affecting the increase in public debt in the US are large government expenditures during the pandemic, budget deficits, tax policy, funds allocated to social programs, and rising interest payments on debt.
