The public debt of the United States, typically in one of the first places in the ranking of public concern has faded into the background as the nation focused on the presidential election of 2020, writes Fox News.
At the beginning of March 2020 total US government debt is about to 23.4 trillion is more than 100% of the total gross domestic product of the country.
The debt is divided into two categories: domestic and public.
Domestic debt refers to debt of the U.S. Treasury to other Federal agencies, such as the Trust Fund of social security. It accounts for almost $ 6 trillion, or about 26% of the total debt.
Other large agencies that are related to this debt include Federal trust Fund insurance disability, Management of pension and Military personnel pension Fund.
Another kind of debt, public, is a debt to physical persons, companies and, in some cases, other governments. It accounts for more than 17 trillion dollars (about 74%) of the total debt of the country.
Despite promises from the administrations of Democrats and Republicans to reduce the national debt, it continues to grow.
According to Business Insider, the US President Donald trump has added about 3 trillion to the national debt over the three years of his reign, less than 4.3 trillion dollars, which said President Barack Obama during the same time period.