The USA have very high debt. The sum is now over 40 trillion dollar. That is about 34 point 3 trillion euro. In 10 years the debt is double. The US finance ministry reports these numbers on Tuesday.
The USA spend more money than they get. The money goes to wars and social security. Health care also costs much money. The state takes less tax. New laws make taxes lower.
The interest for the debt grows. This makes new debt more costly. Experts speak of a debt circle. The interest makes the debt grow more and more. The money is then missing for important things.
This high debt also touches the citizens. Loans for houses or firms get more costly. The people have less money to buy things. If the US economy is bad, the world economy suffers too. Experts warn about the future.
Politicians argue about the causes. Democrats blame Donald Trump for high costs. Republicans demand lower costs from the state. The USA stay a big economic power. The dollar is still the most important currency of the world.
