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Video: US, with huge debts, does not lose rating
2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:43
What attraction exists in one of the US metropolitan areas? The debts of this country can be viewed online when visiting the center of New York. Back in 2008, the obligations of this state became so great that the dollar sign in front of the amount had to be replaced by the number "1", and the company operating this scoreboard suggested inserting a couple more boxes for numbers so that the account could be brought up to a quadrillion.
More than GDP
The United States, whose debts have now reached $17 trillion, which is more than 100% of GDP, is getting an increase to this amount of $4 billion daily, or $2 million every minute. At the same time, the amount does not include the obligations of the companies "Freddie Mac", "Fanny Mac" and others, which in themselves amount to 6.4 trillion dollars. Thus, the total amount of debt will be close to $23.4 trillion.
How can this large sum be distributed among US households? debtsof such a volume, in a uniform scenario, would give about 125 thousand dollars for each family. It is believed that during the years of B. Obama's government, the public debt increased by 61%, while the country's GDP increased by only 4.26%. On average, it turns out that for one dollar spent in the United States, there is about 41 cents of debt. Analysts believe that this ratio is not the limit, and by 2019 the payment of interest on obligations and payments to the population will take 92 cents per dollar of state income, and by 2050 the debt of this country will be about 400% of GDP.
Who does the US owe?
How is the 2013 US national debt distributed, and why hasn't the country defaulted yet? Judging by the data provided by the International Monetary Fund, about half of the issued obligations (47%) were bought by the US government and the Federal Reserve System in the form of investments in funds (social insurance, etc.). It turns out that in this part the country owes itself, and payments with interest are returned back. In addition, about 22 percent of liabilities were bought by central banks of different (most likely loyal) countries, and they will not rush to present them for early redemption. In contrast to the public debt of Greece, where up to 65% percent of the obligations were bought by non-residents, in the US the share of such creditors is about 9 percent.
Ratings do not suffer
State. US debt (2013), despite its gigantic proportions relative to GDP, has not affected the ratings assigned by international agencies. It is believed that the American governmentfree from restrictions on the upper limit of government obligations, so the country still has a credit rating of "AAA". However, it is becoming increasingly difficult for the government to borrow, maintain the work of relevant government agencies, and pay certain amounts to pension and other funds.
The United States, which is so heavily indebted, however, does not reduce its military programs too much (about $431 billion was spent for this purpose in 2013). Also, significant expenditure items include programs for the development of medicine, social benefits, and pensions. In addition, numerous activities outside the country are funded. Thus, it is known that about 5 billion dollars were allocated for the establishment of democracy in Ukraine.
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