Comments on the US debt crisis: "snowball" problem | debt | US
Comic author: Ma Hongliang
The New York Times reported on June 16 that the latest data released by the US Treasury Department showed that the US treasury bond exceeded US $32 trillion for the first time, nine years earlier than previously predicted.
On January 19th of this year, the US government reached its debt ceiling of $31.4 trillion. After months of entanglement between the two parties in the United States, on June 3rd local time, President Biden officially signed a bill on the federal government's debt ceiling and budget, temporarily lifting the US government's debt default crisis. This is also the 103rd time since the end of World War II that the United States has adjusted its debt ceiling.
The continuous accumulation of US federal government debt, like a snowball, is the result of the two parties struggling to resolve their differences on fiscal issues and shifting blame over a long period of time. The bill that constantly adjusts the debt ceiling and budget cannot fundamentally solve the problem, and the long-term financial challenges facing the US government still exist.
![Comments on the US debt crisis: "snowball" problem | debt | US](https://a5qu.com/upload/images/bbfdbf0f6efb8d3642f11020b2435379.jpg)