Economic security

US National Debt Reaches Record High, But No One Knows How to Handle it

Earlier this week, the US national debt hit $19.5 trillion, for the first time ever. Since January 2016, it has increased by $500 billion, according to the US Treasury.

In 2009 when Barack Obama became president the debt was $10.63 billion. Currently, the debt ceiling has been suspended until mid-March which means the debt will rise further.

"The total national debt when Obama leaves office in January is expected to approach $20 trillion by then," an article on Washington Examiner read. In August, the Congressional Budget Office reported that by the end of the fiscal year (September 2016), the debt-to-GDP ratio will increase by three percentage points, to 77 percent. This will be the highest ratio since 1950. During the next decade, the ratio will reach 86 percent, according to estimates.