Nov 23, 2017

US economy circling the drain

The US debt has shot up almost $65 billion in two weeks. These, and other numbers, are raising eyebrows among observers.

Alan Austin — Freelance journalist

Alan Austin

Freelance journalist

Donald Trump and US exceptionalism

Close observers of the US economy got a bit of a shock last week when federal debt broke through US$20.5 trillion. The amount added in November’s first fortnight was a staggering $64.8 billion. That’s more than the entire debt New Zealand has accumulated since World War II. In two weeks.

Ballooning debt

In the last three months, from August 17 to November 17, a thumping $689 billion has been added to US debt — more than the entire gross domestic product of Saudi Arabia or Switzerland or Argentina.

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3 thoughts on “US economy circling the drain

  1. [email protected]

    “In October the jobless rate fell to a creditable 4.1%, now ranking equal eighth in the OECD. So will it drop below 4.0% as happened in the late Bill Clinton years?”
    Smoke and mirrors, like most Western economies – if the figures are too high, just change the goal posts so they look better! The real unemployment rate, as they used to measure it, would be nearer 25-27%!

    1. George

      Interesting claim. Do you have any references for it?

  2. AR

    As always, this author just goes to the heart of the matter – numbers.
    Bang. Done.

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