The US Public Debt Has Crossed $30 Trillion For The First Time Ever

The US public debt has crossed the $30 trillion barrier for the first time ever, with government lending accelerating during the “Corona” pandemic to contain the virus’ repercussions on the economy.

According to US Treasury data released on Tuesday, the US public debt has risen by about seven trillion dollars since the end of 2019, to reach 30.1 trillion dollars at the present time.

The United States currently owes about $8 trillion to foreign investors, led by Japan and China.

According to CNN, the US public debt began to accumulate since the global crisis in 2008, reaching a level of $9.2 trillion at the end of 2007, before it began to rise at a significant pace.

When US President Donald Trump took office, the US public debt stood at $20 trillion.