02.11.2025 18:51
The public debt of the United States, which reached a record level of 37 trillion dollars on August 2, increased by another trillion dollars within 82 days, surpassing the 38 trillion dollar mark.
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The total public debt of the United States has reached a new record. The public debt, which reached a record level of 37 trillion dollars on August 2, increased by another trillion dollars within 82 days. According to data published by the U.S. Department of the Treasury, the total debt exceeded 38 trillion dollars as of October 22.
TOTAL DEBT IS ASTOUNDING
The Peter G. Peterson Foundation, a think tank working on fiscal policies, announced that this amount means a debt of 111 thousand dollars per capita in the U.S. The think tank also pointed out that the amount of U.S. external debt is equal to the total gross domestic product of China, India, Japan, Germany, and the United Kingdom combined.
"THIS AMOUNT IS TWICE THE TOTAL ECONOMIC OUTPUT OF THE EUROPEAN UNION"
Jodey Arrington, Chairman of the House Budget Committee, described the public debt as "the next great battle for the U.S." The Republican politician stated, "The U.S. is currently 38 trillion dollars in debt. To put this into perspective, this amount is twice the total economic output of the European Union, 20 times the annual budget of the United Kingdom, and represents an overwhelming burden of 500 thousand dollars for every young American under the age of 18."
Arrington added, "The public debt is the next great battle for the U.S. If we lose this battle, we lose America's leadership in the world and the future of our children. However, if we can muster our national courage and intervene responsibly, the U.S. will lead in the 21st century."
U.S. DEBT COULD REACH 200% OF GROSS DOMESTIC PRODUCT BY 2047
The nonpartisan Congressional Budget Office (CBO) noted that the U.S. debt could reach 200% of gross domestic product by 2047. Economists expect that the public debt, which has exceeded 38.1 trillion dollars as of today and is increasing by hundreds of dollars every second, will reach 39 trillion dollars within the next few months due to the acceleration of borrowing.
WHAT HAPPENED?
President Trump had proposed an unusual solution to close the ever-increasing public debt by selling "Golden Card" visas to wealthy immigrants. Trump suggested offering "Golden Card" visas for 5 million dollars to wealthy immigrants and a pathway to U.S. citizenship, stating, "Providing 1 million cards means a resource of 5 trillion dollars. If you sell 10 million, that totals 50 trillion, while we have 35 trillion dollars in debt. That would be great."
The total debt of the U.S. had reached 34 trillion dollars in January 2024, 35 trillion dollars in July 2024, and 36 trillion dollars in November 2024. The country's public debt surpassed the 1 trillion dollar threshold in 1982, and 26 years later, in 2008, it reached 10 trillion dollars. The Congressional Budget Office predicts that the total debt, which rose to 30 trillion dollars in 2022, will exceed 40 trillion dollars by 2027.
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