The US, the world's largest economy, owes India USD 216 billion in loan as the country's debt grows to a record USD 29 trillion, an American lawmaker has said, cautioning the leadership against galloping foreign debt, the largest of which comes from China and Japan.
In 2020, the US national debt was USD 23.4 trillion, that was USD 72,309 in debt per person.
"We are going to grow our debt to USD 29 trillion. That is even more debt owed per citizen. There is a lot of misinformaabout 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 are at global competition with China all the time. They are holding a lot of the debt. We owe China over USD 1 trillion and we owe Japan over USD 1 trillion," the Republican Senator from West Virginia said on the floor of the US House of Representatives as he and others opposed the latest stimulus package of USD 2 trillion.
Read more at: https://economictimes.indiatimes.com/news/economy/indicators/us-owes-india-usd-216-billion-as-american-debt-soars-to-usd-29-trillion-lawmaker/articleshow/81240956.cms
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