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I recently read a news from Indian media and it suggested that America is definitely going to be bankrupt for the debt is now 200%.
The US debt has grown exponentially in recent decades, jumping from $5.7 trillion at the turn of the century to $23.2 trillion by 2020. Following the COVID-19 pandemic, the country’s debt has surged by nearly $16 trillion, marking an unprecedented increase. Over the past 316 days alone, the debt has risen by $6.3 billion per day, or approximately Rs 5.32 billion. As a result, the average American citizen now shoulders a debt burden of about $108,000.