The United States of America is going through tough times. The country’s economy has been devastated as a result of the coronavirus. The US Treasury has announced that they are going to borrow 3 trillion USD in this year’s last quarter.
The treasury has taken a hit because of the pandemic-led economic crisis. It has been a difficult year for the country from an economic point of view.
It is the responsibility of the treasury to make sure that the individuals and businesses stay afloat amidst these crises. This can only be made possible if the treasury borrows more money because they have suffered huge losses in the year 2020.
Despite the efforts being made to put America’s economy out of turmoil, many Americans have lost their jobs because of COVID-19. The effort to put people out of their misery has cost a lot of burden on the national treasury.
The national debt has also increased in these tough times and the government is unable to contain it. The COVID-19 crisis continues to date, and it is becoming difficult to understand the future of the economy.
Borrowing more money is the only solution that can drive the economy in the right direction. The National Treasury has helped millions of people and in these testing times, the only solution is to help the businesses get back on their feet.
The total US Government debt has reached up to 25 trillion USD, which means that there has been an increase of 6.4% in debt from the previous year. This is the highest recorded debt in American history.
After World War 2, this is the most difficult time for the US economy and there is seemingly no solution to the problem. All eyes are on the government and the National Treasury to put people out of their misery.
Many small businesses are shutting down on daily basis, making it difficult for the government to provide compensation to everyone. People have tried to donate as well to make sure that the government is not burdened.