How us government borrow?

How US government issues Treasury securities to fund the deficit between the amount of money that it takes in through taxes and other sources, and

The amount of money that it spends on defense, welfare programs and the interest it pays on its current debt.

US national debt is owned mostly in the US but around one-third is owned predominantly by Asian economies.

What has happened?

The USA, the world's largest economy, owns India USD 216 billion in loan as the country's debt grows to a records USD 29 trillion, an American lawmaker has said.

Cautioning the leadership against galloping foreign debt, the largest of which comes from China and Japan.

As of now USA borrows 29 trillion USD where the USA total GDP was 23 trillion USD means already USA borrow dollar more than 100%.

In the year 2020, the united stats national debt was $23.4 trillion, that was $72,309 in debt per person of united states.

Congressman Alex Mooney said, 

  • "We are at global competition with China all the time and they are holding a lot of the debt. We owe China over $1 trillion and we owe Japan $1trillion,"

  • "The people who are loaning us the money we have to pay back are not necessarily people who have our best interest at heart.

           Brazil, we owe $258 billion.

           India, we owe $216 billion.

           And the list goes on the debt that is owed to foreign countries,"

America's national debt was $5.6 trillion in 2000. During the Obama administration, it actually doubled.

USD 104 trillion by 2050

mooney said things have gone completely out of control. The Congressional Budget office estimate an additional $104 trillion will be added by 2050.

Impact on India?

The first impact on US economy growth and US is India's largest trading partner.

The flow of funds passive assets manager into India should continue.

- whatnot

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