The public debt of the United States has hit a new record once again! For the first time in history, the figure exceeded the ceiling of $20 trillion. The scale of the debt is really impressive. The Congress did not argue with the president and agreed to raise the debt ceiling, and now these circumstances do not limit the Finance Department in its scope of facilities.
Until December, the States can freely take new borrowings. However, experts and analysts have no doubt that in December the Congress will raise the limits once again. They associate it with the words ‘let’s party hard!’ However, if earlier the amount was impressive but it did not go beyond annual GDP (which is about $19 trillion), now the debt has surely exceeded this value. The US problems with the debts are an echo of the global financial crisis of 2008. Over the past few years, the US government has increased the ceiling for public debt several times, but every time it broke through a new limit. And, to all appearances, considerable changes in this plan are unlikely to happen in the near future.
Of course, it is still difficult to call the United States a bankrupt, but with every year the situation becomes more complicated. The population of the country is steadily aging and having health issues, and as a result, more money is required for medical and social care, and amounts of taxes going to the state budgets are getting smaller with every year. Plus, the unstable situation in the world economy increases the US debt obligations. Against this backdrop, Russia looks like a responsible borrower according to the assessment of the Ministry of Finance. By the end of 2017, the national debt is expected to reach 12.7 trillion rubles, 13.8 percent of the country's GDP.
