The US president, Donald Trump, is challenging official figures around the country’s federal debt, suggesting possible fraud in its calculation. The president’s remarks have added a controversial twist to an issue that is both complex and consequential for the United States. And it has implications for the global economy and financial markets too.
US federal debt is the total amount of money the US government owes from years of borrowing to cover budget deficits (spending beyond its revenues). Over time, this amount has grown significantly, becoming a focal point for political debates and economic forecasts.
The US debt clock indicates an amount of debt of above US$36 trillion (£28.5 trillion), corresponding to US$107,227 (£84,795) per US citizen.
This figure is based on the US total public debt series. It is undeniable that the US debt has grown remarkably since the 2008 recession, with a further acceleration during…
