The US owes India 216 billion,a record 29 trillion increase in debt US Lawmakers

 The United States, the world's largest economy, owes India 216 billion.

                          

US Debt reach 29 trillion,US lawmakers say

warning the leadership against foreign debt,largest source from China and Japan

                        

The United States, the world's largest economy, owes India  216 billion, a record  29 trillion increase in debt, US lawmakers say, warning the leadership against foreign debt, the largest of which comes from China and Japan.

  In 2020, the U.S. national debt was  23.4 trillion, which was  72,309 per capita

'We are going to grow our debt to USD 29 trillion. That is even more debt owed per citizen. There is a lot of misinformation about where the debt is going. The top two countries we owe the debt to are China and Japan, not actually our friends,' Congressman Alex Mooney said.

We will lend  1 trillion to China and more than  1 trillion to Japan, ”the Republican senator from West Virginia said in the US House of Representatives.

  In January, U.S. President Joe Biden announced a 9 1.9 trillion coronavirus relief package to address the economic consequences of the epidemic, including providing direct financial assistance to Americans, business assistance and the promotion of the national vaccination program.

'The people who are loaning us the money we have to pay back are not necessarily people who have our best interest at heart. Brazil, we owe USD 258 billion. India, we owe USD 216 billion. And the list goes on the debt that is owed to foreign countries,' Congressman Mooney said.

America's national debt was USD5.6 trillion in 2000. During the Obama administration, it actually doubled.

'Since the eight years Obama was President, we doubled our national debt. And we are adding another projected here a completely out of control debt-to-GDP ratio,' he said urging his Congressional colleagues to consider this national debt issue before approving the stimulus package.

'So I urge my colleagues to consider the future. Don't buy into the government has no money it doesn't take from you that you are going to have to pay back. We need to be judicious with these dollars, and most of this is not going to coronavirus relief anyway,' he said.

Congressmen Mooney said that things have gone completely out of control. The Congressional Budget Office estimates an additional USD 104 trillion will be added by 2050. The Congressional Budget Office forecasted debt would rise 200 per cent.

'Today, as I stand here right now, we have USD 27.9 trillion in national debt…That is actually a little more than USD 84,000 of debt to every American citizen right here today,' Mooney said.

'We have actually borrowed USD 10,000 per person in one year. I mean, that is out of control,' he said.