U.S. close to a dangerous level of government debt, but … can not stop

 

administration of President Barack Obama continues to build the U.S. national debt. According to a preliminary forecast of the White House until 2019, ten-year budget deficit increased by $ 2 trillion to $ 9 trillion dollars. The new borrowing will be needed for the troubled health-care reform, which tried to implement further the administration of President Clinton, and the continuation of military campaigns in Iraq and Afghanistan. The budget deficit for this year is projected at 1,6-1,8 trillion, depending primarily on the number of problem banks, which require government financial support.

In parallel with the growth of the budget deficit is growing and the total U.S. public debt, which now amounts to some estimates, 11.7 trillion dollars, approaching the next legislatively impose a ceiling on the level of public debt 12.1 trillion. That is, for each of the 306 million U.S. residents accounted for about 38,2 thousand dollars of debt. Nevertheless, Finance Minister Timothy Geithner has urged the U.S. Congress to increase the limits for the administration to attract foreign loans.

Today, according to the federal treasury USA, the largest U.S. lenders, ie the holders of government bonds, are China (776 billion) and Japan (711 billion). Russia with 119 billion is ranked seventh in the list of the largest creditors of the U.S. government. In the ten largest U.S. lenders also include: United Kingdom (214 billion), a group of 15 oil-exporting countries (191 billion), a group of offshore Caribbean (189 billion), Brazil (139 billion), Luxembourg (104 billion), Hong Kong (99 billion).

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