Next to the New York Central Library, there is a huge clock, but the clock is not counting the time, but the national debt of the United States. The so-called national debt is also the fiscal deficit accumulated by the federal government. According to the US investment website "the balance", three-quarters of the national debt is held by the public, private companies, and foreign governments, which is the so-called public debt. This year (2020), the US government has borrowed a lot to issue stimulus packages in order to relieve the livelihood and economic disasters caused by the epidemic. In April, the US national debt had reached 1.22 times the gross domestic product (GDP) .
In other words, the total output remove background from image value of the United States for a whole year cannot repay the current debt. Compared with other developed countries, the ratio is higher than that of the United States only in Portugal, Italy, Greece and Japan. In October, the national debt clock hit a new high of $27 trillion, the highest since World War II. What to do with so much debt? Does lowering the bailout help? The record-high U.S. national debt is worrying, and it also makes people intuitively think of directly reducing the relief payment, but "whether it is time to stop borrowing at this time in order to reduce debt", many economists are against it.
After all, the current economic problems in the United States directly affect the people's livelihood and livelihood. If people sacrifice their livelihood in order to reduce the national debt and ignore the enterprises and businesses facing the crisis of going out of business, it will cause greater damage to the economy and will widen the gap between the rich and the poor. Population emigration, reducing national productivity and economic mobility, will cause longer and more deadly harm to national security and national development. Therefore, whether in the long term or in the short term, it is a more sensible decision to borrow at this