The US national debt exceeded $ 33 trillion for the first time in the country’s history on Monday, according to US Treasury Department data.She said
U.S. Treasury SecretaryJanet Yellen said in media statements on Monday that the US national debt currently stands at about $ 33.04 trillion, although she stressed that her country is on a “sustainable path.”
She added that she is satisfied with America’s economic trajectory, despite rising inflation and interest rates.
“Reducing the deficit further is certainly possible, as US President Joe Biden has proposed a series of measures that will reduce our deficit over time, while investing in the economy, and that’s something we have to do going forward,” Yellen said.
The statistic or metric that I look at most often to judge a fiscal situation is that our fiscal trajectory is net interest as a percentage of GDP, and even with the rise we’ve seen in interest rates, this remains at a very reasonable level of around 1 percent, but we need to be careful about what we do in the future in order to make sure we stay on this. Sustainable path”.
Source: Sputnik
