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Main » 2019 » November » 1 » Debt - the main problem of the United States
09:36
Debt - the main problem of the United States

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Democrats and Republicans can not possibly find a common language, and knows this and Washington, their opposition visibly at every step. 

Question bipartisan clear, but for 40 years they still remain something in common - a common opinion about the appearance of US government debt.

At the moment the size of the debt amounts to 22 925 000 000 000 dollars, and every second is its increase by tens of thousands, and the future of the state is quite a grim look. 

 

 

At the end of the Second World War there was the most massive debt to GDP ratio in the history of the country's existence. At the time the debt was simply enormous, and was equal to 104% of GDP.

In 1980 there was a sharp drop in its growth and again. This fact is connected with the restoration of military power during President Ronald Reagan in connection with which the Pentagon's budget has increased to 35%. These events provoked the resignation of David Stockman, served as director of Management and Budget. 

The largest scale debt reached during the reign of predecessor Trump Obama, he was equal to 20 trillion dollars. The current president of the USA will be the third head of state, which can not affect the annual budget deficit of $ 1 trillion. The debt to GDP ratio is 78%, this figure is exactly the same data in 1950 is predicted that if we take into account the current level of expenditure, then by 2034 the GDP will stop at the level of 101%, and will reach colossal Range in 2048 and will be at 144%.

Most of the world is much more difficult situation than in the US, but, oddly enough, for some reason this country is in the lead, and its global reserve currency grows stronger. 

By law, Stein turning point can not be avoided. US debt will not be able to eliminate the market and then the next crisis will be. There are two ways to resolve the arisen situation: stop paying, giving away or follow the example of Zimbabwe to engage in inflating the money supply. 

What to expect next? The first is to undermine the economy and the loss of millions of citizens' money, which would entail and problems in international relations. 

America would be virtually impossible to engage in military operations providence. The United States will have to decide on a major step for the simultaneous removal of all parts of the world of his troops. In the past, the chairman of the Joint Chiefs at the headquarters said: "The greatest threat to our country - it is the presence of the huge debt in the state." 

Find the right solution is not realistic in this matter. Over the years, the joint efforts of the Democrats to cut spending and trying to find a balance.

David Stockman believes that to address this complex issue required a sharp increase in taxes and reduction in costs.

But despite all the positive outlook, the situation remains unresolved. Voters think sensibly and do not want to consent to the short-term losses and exchange it all on relief and long-term let. At the last election the two parties on this point, did not pay attention. Avoid the crisis will not be possible, we must be fully prepared for it. 

 

WELTRADE analyst 

 

 

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