The total national debt of the US federal government exceeded 37 trillion dollars for the first time in history last week, according to a report issued by Fox Business. On July 4, President Donald Trump signed the one beautiful bill (OBBA), on a debt law of $ 5 trillion, which led him to over 41 trillion dollars and avoid a possible virtual crisis.
Akabas tea from the party policy center indicated that the inclusion of the maximum debt in OBBA is the first time that raising has been raised through the budget settlement, indicating a shift in how legislators deal with financial restrictions. Maya McGenias, head of the responsible federal budget committee, has warned that this step reflects the broader lack of commitment to address the country’s unsustable financial path in the country.
Meanwhile, data from the IndexBox platform shows that the American budget deficit has expanded by $ 109 billion compared to the previous year, despite the flow of customs tariff revenues. Ray Dalio has also warned that the irresponsible deficit may lead to a severe financial crisis.
Source: Indexbox Market Intelligence
