COMRADES, US debt burden is on track to reach more than $50trillion over the next decade. The US is more than $34trillion in debt, that's almost equal to its entire GDP. The figure is bigger than any other nation's debt, but does that matter when Washington issues the world's leading reserve currency?

A new report by an independent watchdog is now sounding the alarm among financial experts. The congressional budget office says by 2034 the debt is expected to hit 122% of GDP, that would be the highest level ever recorded, barring changes in tax and spending policies.

US spends $2.4 billion daily on debt services
Major consumers of debts are: "social services, defence, and education"
If repayment plan is to be made by individual, each individual will pay $101,000
If repayment plan is to be made by household, each household will pay 259,000
If each household contributes $1000 per month, it will take them 22 years to offset the burden
Source: counting the cost on Aljazeera

NIGERIA'S DEBT BURDEN
The DMO said as at March 31, 2024, the country's domestic and external debts stood at N121.67trillion ($91.46billion). Nigeria's debt rose by N24.33trillion within three months- from N97.34trillion ($91.46billion) in December 2023, to N121.67trillion, ($108.23billion) June 20, 2024.
Major consumers: probably, recurrent expenditure and railway constructions
Repayment plan by citizens, each individual will pay N217,000
Sources: channels online com/NBS portal

Cc
Seun
Mynd44
Nlfpmod
Fergie001

USA have the monopoly of printing new dollars anyhow.

All those Aids abi na HIV they have been given to the countries which they led to senseless wars are in dollars