During the presidency of Barack Obama the US national debt has almost doubled and now exceeded 19.5 billion, announced by the U.S. Treasury.
By the end of the day on Wednesday the amount of debt owed by the us authorities amounted to more than 19,51 trillion dollars, reports TASS
Commenting on this news, the Washington Examiner reminds us that by the time of the coming to power of current President, the total size of the national debt was approximately of 10.63 trillion.
Thus, in less than eight years it almost doubled. By the end of the term of stay of Obama in power, because it is close to 20 trillion dollars.
In comparison with the size of the national economy, according to IMF estimates, the US national debt now stands at 107,5% of GDP. In 1998-2007 he were equal to the average of 60.7%.
The American authorities generally are used in such assessments crafty accounting: compared to GDP is only a “pure” public debt, excluding obligations of the government for key social programs. But even their numbers are now very impressive – under 77%.
The law on the debt ceiling in the US is now suspended. Until March 15 of next year, the government is entitled to borrow as much as he needs to Finance its activities.
But then the law will again take effect, and the authorities will need either to re-raise the debt ceiling, or to take “extraordinary” measures. In any case, it will be one of the key tasks of the future under a new administration and new members of Congress.
We will remind, in February the debt was of 19.01 trillion dollars.
