US government borrowing is rising at a historic pace. In the last year alone, debt grew by 3 trillion dollars, despite President Trump’s promises to bring spending under control. US national debt has doubled over the last 10 years and now stands at over 40 trillion dollars. That’s almost 120,000 dollars for every single person in America. DW News spoke with Wendy Edelberg, a principal at the geopolitical consulting firm WestExec Advisors and a former chief economist at the Congressional Budget Office, which provides economic data to US lawmakers.
Chapters:
00:00 America’s debt hits $40 trillion
00:53 Wendy Edelberg explains the numbers
01:49 Is the debt actually a problem?
05:00 Debt, taxes and political choices
09:02 Could China threaten the US economy?
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