Business

Under Trump, US national debt rises by $7 trillion

At the same time, during the two terms of Barack Obama’s presidency, the US national debt has increased by more than 9 trillion.

During the presidency of Donald Trump (since the end of January 2017), the US national debt has grown by about $7 trillion. This was announced on Wednesday, October 7, by the CBS television channel.

It is noted that according to documents published by the Ministry of Finance of the country, by the beginning of the new financial year in the United States (October 1), the national debt exceeded $27 trillion.

Thus, the national debt reached 26 trillion in June this year, having increased by a trillion in just a month. At the same time, it is expected to increase amid the coronavirus  — with the consent of the Congress, the White House has already announced the allocation of over $6 trillion to stimulate the economy.

According to the TV channel, during the previous presidential campaign, Trump promised to solve the problem of the huge US national debt in two presidential terms by reforming and revising a number of trade agreements.

For comparison, during the eight years of the presidency of Barack Obama, who led the country before Trump came to power, the national debt increased by more than $9 trillion and reached almost 20 trillion.

As reported earlier, sharply increased the purchase of US government debt — over the month, investments in government securities rose to $12.58 billion.



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