US debt – a stain on US economy

The increasing US debt is a growing concern for many economists and policymakers. The debt has been growing steadily for decades, and it now stands at over $30 trillion. This is a significant amount of debt, and it is putting a strain on the US economy.

There are a number of reasons for the increasing US debt. One reason is the cost of wars in Iraq and Afghanistan. The US has spent trillions of dollars on these wars, and this has added to the debt. Another reason for the increasing debt is the aging population.

The US population is getting older, and this is putting a strain on Social Security and Medicare. These programs are funded by taxes, and as the population ages, the number of people receiving benefits will increase. This will put a strain on the government's budget and will lead to higher taxes or cuts to other programs.

The increasing US debt is a serious problem. It is putting a strain on the economy and it is making it more difficult for the government to provide essential services. Failure to raise the debt ceiling from its current limit could see the US suspend its social insurance payments and the salaries of its federal and military employees.

The increasing US debt is a complex problem, and there is no easy solution. However, it is a problem that needs to be addressed. Default also threatens to wreak havoc on the global economy, affecting prices and mortgage rates in other countries.

Intensive negotiations between President Joe Biden and other US leaders on the debt ceiling have sparked a surge in Twitter influencer conversations. With just a few weeks remaining before a potential debt default in June 2023, influencers express growing concern as no deal has been finalized yet and political discussions on the debt ceiling jitters.

Experts say, US is 25% of World Economy. They crash, the whole world crashes with it. Most of the influencers have raised concerns that failure to raise the ceiling may impact negatively on the global economic growth. They have expressed skepticism or amusement at the political tussle involved. Meanwhile, few influencers have shown optimism that a deal will be reached.

The increasing US debt is a serious problem that needs to be addressed. The government needs to find ways to reduce spending and increase revenue. It also needs to make tough decisions about which programs to cut and which ones to keep. If the government does not take action, the consequences could be severe.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA