The US government debt exceeded 35 trillion dollars
reported%20%0A
The Congressional Budget Office initially estimated this amount at 1.6 trillion dollars, but it included things like aid to Ukraine and the Zionist regime, increased medical expenses and the cancellation of 100 billion dollars in debt. A student by Joe Biden pointed out that it has led to increased costs. The national debt is expected to reach more than 56 trillion dollars by 2034.
Former President Donald Trump and President Joe Biden in large part by helping the economy during the pandemic Corona have added thousands of billions to the US national debt.
According to the report of the Responsible Federal Budget Committee, Trump spent 8.4 trillion dollars and in the first three years and five months of his presidency. Biden has added 4.3 trillion dollars to the US debt. According to the report of the Heritage Foundation, however, Trump 6.5 trillion dollars and Biden 7. They have added 9 trillion dollars to the American debt.
This difference is due to the updated forecasts of the Congressional Budget Office and the level of US Treasury reserves. Peter J Foundation. Peterson notes that the main drivers of the national debt include population, health care costs and insufficient income. The report shows that the average health care cost per person worldwide is $6,414. America spends $12,555 per person.
According to this foundation report, the big Baby Boomer generation (born 1946-1964) are aging, retiring and living longer, and this is affecting budgets and debt. It is predicted that by 2070, the United States will have 96.9 million seniors. The number of elderly people in 2010 was 40.5 million people. These massive population trends are putting increasing pressure on the federal budget, especially critical health care programs that serve older and more vulnerable citizens.
