The U.S. national debt is $30.10 trillion and interest expenses will reach $5 trillion over the next 10 years, and the hard-line conservative system has increased the confrontation with the socialist economic system.
The Congressional Budget Office (CBO) announced on the 1st that the fiscal year 2021 (October 2020-September 2021) deficit of $2.7,700 is 12.4% of GDP, and that the deficit for the fiscal year last year was 15.0% of GDP.
According to the Voice of America (VOA) on the 2nd, the Peterson Foundation forecast that the interest cost of the national debt will exceed $5 trillion over the next 10 years following the rate hike.
The U.S. national debt surged 50% from $20 trillion in the beginning of the Trump administration in 2017 to $10 trillion in four years, strengthening the hardline remuneration system of capital powerhouses.
The US national debt stood at $9.2 trillion at the time of the financial crisis in December 2007.
Under the Republican Party system, the Congressional Budget Office (CBO) diagnosed with a report on August 21, 2019, "The U.S. economy is slowing and household income is declining as trade barriers, including tariffs, are rising." 'No,' he said, putting the policy of strengthening tariffs to attack China, and began to promote 'fake news', saying, "The media producing fake news are doing everything they can to create a recession in the United States."
At a joint press conference with the President of Romania, President Trump said, "I want to see the Federal Reserve cut interest rates and quantitative easing" as an "emergency action plan." announced its economic stimulus policy on August 20, 2019.
The conservative tax cut policy, the indexation of capital income, lowers the sales tax on stocks, bonds, and real estate held for more than one year in conjunction with the inflation rate, and reduces payroll tax withholding. In response to the Republican Party's aggressive tax cut policy, the US Democrats countered that inflation without congressional approval was illegal and simply a long-term investment benefit.
The Trump administration intensified international tensions by building the Mexican border wall and increasing armaments, and attempted to revive Reaganomics, where the aggressive tax cut strategy neutralized Congress and reinforced the external intervention strategy.
The US hard-line conservative system used the expansion of the budget deficit to expel the anti-US socialist regime for the expansion of the military industry and military options on the Korean Peninsula in the Middle East and Eastern Europe.
The Moon Jae-in regime tried to weaken North Korea's socialist economy by strengthening the hard-line conservative system by increasing arms and expanding the debt economy in close contact with the Trump regime.