US national debt hit a record high

US government debt reached $ 22,01 trillion, according to the US Treasury on February 11. Earlier, CNN reported that under the presidency of Trump, the country's national debt increased by $ 2 trillion.

Фото: Depositphotos

The US national debt as of 11 February 2019 of the year reached a record level and amounted to $ 22,01 trillion, reports RBCreferring to the document on the website of the US Treasury.

In January, it became known that the US national debt at the end of 2018 of the year was $ 21,9 trillion, at the beginning of 2017, the figure was $ 19,9 trillion, CNN reported. According to the Ministry of Finance, the national debt of the country began to grow in 2008, after the financial crisis.

Under President Barack Obama, the US national debt increased from $ 10,6 trillion to $ 19,9 trillion, which caused sharp criticism from opposition Republicans. As a presidential candidate, Donald Trump in the spring of 2016 of the year gave an interview to The Washington Post, in which he promised to liquidate the national debt within eight years.

At the start of Trump’s presidency, it began to shrink, but in 2018, it began to grow again due to the tax reform announced at the end of 2017. For the first time in US history, national debt exceeded $ 21 trillion in March 2018, CBS reported.

In April, experts in the US Congress predicted 2018 growth in government debt to 96% of GDP by 2028. In their opinion, $ 1,9 trillion to the state debt will be added due to tax changes, including through the law on tax cuts and job creation (Tax Cuts and Jobs Act), which provides for reducing the corporate tax rate to 20%. Because of the growth in government debt, the chairman of the White House’s Economic Advisers Council, Kevin Hassett, demanded that Trump cut the federal budget of each federal agency by 5%.

Recall that last year Russia reduced its participation in the US national debt to the lowest level since 2007 of the year. Such a maneuver was most likely caused by the April sanctions.

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