Kathmandu. Us President Donald Trump is making one quick decision after another in his second term. Trump wants to make America great again. But he has miserably failed to control the country’s growing debt.
U.S. debt is expected to reach $40 trillion this year. At the beginning of 2020, it was $23.2 trillion. That is, there has been an increase of about $17 trillion in the last five years.
America has never borrowed so much in its history. On the one hand, america’s debt is increasing and on the other hand, the federal government’s spending is increasing. In 1900, it was only 3.14 percent of GDP. Which increased to 13.83 percent in 1950. In 2000, us federal government spending reached 17.53 percent of the country’s GDP. Now it has reached 23.87 percent.
To reduce this spending, Trump created the Government Efficiency Department. Elon Musk was given the responsibility. But now Musk has moved away from Trump.
In the United States, government incomes are falling and spending is increasing. According to experts, this is not a good thing for america’s economy and national security. The U.S. has to spend about $2 billion a day on interest payments. Because of this, the government may have to cut the total expenditure on research and development, infrastructure, education and social security. – Agency
