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The US national debt is rapidly increasing: one more trillion in just half a year

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The US national debt is rapidly increasing: one more trillion in just half a year
March 19
09:00 2018

For the first time in the history of the United States of America, the size of the national debt has crossed a striking sum of 21 trillion US dollars. The public became aware of this fact thanks to the official data released by the government.

We recall that last Thursday, the national debt was equal to 21 trillion 31 billion US dollars. Thus, since September last year the volume of the public debt has increased by more than a trillion US dollars (in just six months).

Last week, the US Treasury reported on the state of the country’s budget. So, in February this year the budget deficit amounted to 215.248 billion US dollars (this is 12.1% more than in the same period last year). Also, the public did not seem pleased with the budget revenues. Compared to the same period in 2017, the budget revenues have decreased by 9.4% to the level of 155.623 billion US dollars. Despite the tax reform, collecting income taxes has fallen by 2%.

Spending items of the budget have grown by 2%. The reason for this is the increasing interest payments on servicing the public debt (about $ 28 billion), as well as the consequences of natural disasters that regularly fall on the States.

As you know, the fiscal year begins on October 1. So, for incomplete half of the current financial year, analysts noted an increase in the negative balance of the budget to the level of 390.965 billion US dollars (this means that the increase in the “minus” totaled 11.5%).

It should be noted that the amount of budget revenues since the beginning of the fiscal year has grown by 2.4%, The costs have also increased by 4.4% to the level of 1.677 trillion US dollars.

Such a frightening sum of the US public debt will affect the quotes of the national currency for sure. Investors and traders should expect increased volatility of this asset.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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