The Republicans initially sought to raise the debt limit by US$1.5 trillion, with the difference between this proposal and that of the US administration standing at US$1.957 trillion. theSun theSundaily national debt WorldNews
: The United States’ bloated national debt is looming over its main holders, namely Asia-Pacific nations, Rosneft head Igor Sechin said on Saturday at the St Petersburg International Economic Forum , reported Sputnik.
He noted that the US national debt has jumped tenfold over the past 30 years, from US$3 trillion to more than US$31 trillion, which is twice the rate of the country’s economic growth. The cost of servicing the debt may reach US$1 trillion a year, an equivalent to one-fifth of the US budget, and it is growing, Sechin added.
“Do you know what that number is? This sum matches with striking accuracy the current investments in the US debt of two countries — Japan and China. What a temptation! How easy it would be to solve the US debt problem by dropping the debt to these countries, just as [they] did to slaveholders 155 years ago,“ Sechin said.
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