United States in so much debt as never before – and bunkers on a savings account

the The US is currently much in so much debt as never before. for A reason: The expenditure for unemployed persons are 40 Times as high as last year. All

United States in so much debt as never before – and bunkers on a savings account
the
  • The US is currently much in so much debt as never before.
  • for A reason: The expenditure for unemployed persons are 40 Times as high as last year.
  • All the $ 1.7 trillion currently, but simply on the account of the Minister of Finance.

The Corona-crisis is not only the national debt to explode in Germany. In the USA 864 billion dollars in July alone, add the equivalent of about 762 billion euros. This corresponds approximately to twice the sum of the outputs of Germany's Federal government in a full year.

in Total, have heaped up the United States in its fiscal year, the traditionally begins in October, 2.7 trillion dollars in new debt. This is a new record. In the first nine months of last year, there were only 747 billion dollars. At the end of the year the debt is expected to be grow by a total of 3.7 trillion dollars. In the previous year it was just under a trillion.

US has so many unemployed, such as Greece,

In absolute Numbers, the USA have never made so many debts. Relative to the size of the economy is seen, it is the highest since the Second world war. Necessary the enormous debt to support the economy through the Corona of a crisis. Alone for unemployment assistance in the U.S. were paying in June, with 116 billion dollars, of which 80,4 billion dollars by the US government. The Rest of the Federal States and local authorities shared. For comparison: A year earlier, the expenditure for the unemployed amounted to just $ 2 billion.

Since then, the unemployment rate grew in the country at 11.1 percent. However, this is only the official number. Because the employment Agency, however, has problems that leave employees capture a technically correct, it could be the actual rate is significantly higher. Estimated values of between 16 and 20 percent. This is a level that in the EU only Greece has reached.

of debt of the USA grows higher than in the Second world war

More people out of work also lead to less tax revenues: In June, Minister of Finance, Steven Mnuchin, a cashed in only 241 billion dollars to 92 billion less than the previous year. That, too, is the mountain of debt to rise. In addition, the US government, the citizens and the firms delay some taxes, will not be able to pay in the economic crisis.

The total debt burden of the USA is currently around 26 trillion dollars. That is more than six times the total German economic performance and the world record. In terms of economic performance, the so-called debt-to-GDP ratio was in December of 135 percent of gross domestic product. Only four countries on earth have a worse value. US Dollar / Euro (USD/EUR) 0,8760 EUR -0,0020 (-0,23%) OTC

  • 1 day
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course data

The prospects for the coming years are gloomy. The Committee for a Responsible Federal Budget (CRFB), a kind of tax number Federal of the United States, expects that the US debt will exceed 2023, the record figures from the Second world war. Even after that you should grow up with significantly more than a trillion dollars per year – values that had reached the U.S. before, only in the financial crisis.

Minister of Finance, hoarding revenue in the account

the Federal Reserve, Commerzbank Research however, many of the currently-made in debt will land on the savings account of the Minister of Finance. The so-called "Treasury General Account" (TGA) at the Central Bank, the Fed, rose at the end of June to 1.7 trillion dollars. On the TGA, the US government settles its payment transactions. Typically, store between 200 and 300 billion dollars, which corresponds to the state expenditure of about a week.

That this amount would increase by the adopted Corona-aid, was to be expected, however, the extent surprised. Minister of Finance, Mnuchin had actually announced to limit it to 800 billion dollars, now the account balance is more than twice as high.

One reason for this is not visible. It could be that not all aid has been paid, or that the Finance Minister wants to hold a thicker cushion for the coming months. Impact on the financial market of the high account does not stand but. It just makes it less likely that the United States give out new short-term bonds. Finding financial freedom: "Had to leave Germany in order to get rich" FOCUS Online search of financial freedom: "Had to leave Germany in order to be rich

" Users of FOCUS Online comment on the article
  • "this is really not surprising, after all, is not known, that Donald Trump can it. Most of the Corona-the victims, the majority of the unemployed and an economic performance after WW II, This man disassembled, everything really - at least he can."
  • "Trump will go down as the fault of the king, and Disability President in history. By the way, the new book about the President's hilarious is. There's something about his IQ, but because we want to make to us it's funny because it's just sad."
  • "looks Like it is in Germany? Similarly, in the EU? Who on earth is that going to ever repay you? My children do for me now, sorry. The main thing is that the US denounce."

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Updated Date: 17 July 2020, 06:28

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