The debt ceiling extension deal raises borrowing limit by just 480B until Dec. 3. This number is not allowing much more than paying interest over next 60 days and far from trillions hoped by the democrats and the markets.
Biden remarks at the business leaders this week on autocracies ability print come out as a bad joke as the business leaders and the treasury secretary Yellen demand to abolish debt ceiling to print unlimited amount at the expense of future generations and The US Debt to GDP in the United States had increased by as much as china’s total debt $5 trillion sInce he was elected is approaching 30trillion or the 150 percent in 2022 vs 200B for Russia and $5.5 trillion for China.
China’s national debt is currently 54.44% of its GDP, a significant increase from 2014 when the national debt was at 41.54% of China’s GDP. China’s national debt is currently over ¥38 trillion (over $5 5 trillion USD).
Russia’s debt ratio is one of the lowest in the world at 17.48% of its GDP. Russia is the ninth least indebted country in the world and is currently at a total of over 14 billion руб ($216 billion USD). Most of Russia’s external debt is private