Amid the coronavirus, the US public debt is expected to increase over the next several months
America’s public debt increased by $1.3T in 6 months. Source: shutterstock.com
According to LearnBonds, US public debt has grown by over $20 trillion over the last 20 years. As of February 2020, the public debt in America sat around $23.4 trillion and has increased over $1.3 trillion in 6 months.
The report unveiled that the 2030 public borrowing forecast is estimated to hit $31.5 trillion. Although, since Americans will be turning to personal loans and even payday loans at this tough time, this forecast may prove to be modest.
Earlier in March 2019, there was a drop in debt at over $100 million, which flat-lined through to July 2019. Afterward, it increased drastically through to February 2020 and is likely to keep growing throughout the next few months due to the coronavirus spread.
The report also stated that America isn’t in the top 3 countries with the highest public debts. At the end of 2019 Japan, Sudan and Greece are currently the nations with the highest levels of debt.
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