We know the United States for its boosting economy and financial power. But it is also a fact that its debt has highly increased in the last few years. The U.S. public debt, that has been taken from other governments, individual entities as well as business empires, amounts to quite a lot. However, is there a single administration that should be held responsible for this increasing debt? Not at all, this debt has been increasing each year.
From the facts that we have, from 2009 until 2020 have contributed to the increase in U.S. debts. This means that both the recent Donald Trump administration, as well as the Obama administration in its two terms, has caused an increase in public debt. Debt has so far reached 21 trillion dollars, this latest figure has been until of 30 September of this year.
It is also expected that this figure will only grow in the next few years. According to a projection, in the next decade, an additional of more than 12 trillion dollars is expected to be added to the current figure of 21 trillion. This projection is expected generally and is in no way related to who gets to form the new government in the United States. Furthermore, this debt is exclusive of any relief debts dedicated to COVID-19 victims or related to the pandemic in any way.
It is important to note, however, that where debts have increased, the number of gold and silver coin production is only going down. This can cause inflation. Thus, we can compare these debts to the number of gold and silver coins produced during these three terms respectively. The infographic below shows the relationship between the debts issued for each ounce of a coin. It also highlights how debts will increase in the next few years.
Infographic by: VisualCapitalist