America Indebted To The World: Owes About 15 Lakh Crore Rupees To India
Friyana Munshi
New Delhi, February 27, 2021: The debt burden on the US has increased rapidly in two decades and owes a debt of $ 216 billion to India. America has a total debt of about 29 thousand billion dollars, that is, about 15 lakh crores. An American lawmaker has warned the government about the increasing debt burden on the country. China and Japan have proved to be the largest creditors of the US. The total national debt burden of the US in the year 2020 was 23,400 billion dollars. This meant an average loan of $ 72309 for each American.
China and Japan are largest lenders
US MP Alex Mooney said, “Our debt is going to reach $ 29000 billion. This means that the debt burden is increasing more on every person. Information regarding the debt is misleading, especially regarding where it is being used. The two countries – China and Japan, who are our biggest lenders, are not really our friends.”
China’s debt of more than 1000 billion dollars
Opposing the Biden government’s nearly $ 2,000 billion relief package in the US House of Representatives, MP Mooney, who represents West Virginia, said, “We compete globally with China. We owe China more than $ 1000 billion in debt. We also owe more than $ 1000 billion to Japan.”
America is also a defaulter of Brazil
MP Mooney said that “Countries providing loans to us, we have to repay their debt. These countries do not necessarily care about our best interests. We cannot say that they always take care of our interests at heart. Brazil lent $ 258 billion to us” He further stated that “We owe India owes $ 216 billion. This list of our foreign lenders is very long.”
In 2000, the US had a debt of 5600 billion dollars. This doubled during the time of Obama. In January, US President Joe Biden announced a $ 1900 billion Covid-19 relief package to counter the crisis caused by the epidemic. Mooney and other opposition MPs opposed the package. Mooney said that in Obama’s eight years, we have doubled the debt on us – and today we are going to increase it further. The debt-to-gross domestic product (GDP) ratio has gone out of control.
