The latest developments in the development of Hanjiang, the latest news of Hanjiang society.
Welcome to pay attention, Hanjiang News is in one hand!
According to the latest data on the website of the United States Treasury on July 29 local time, as of July 26, the scale of United States federal government debt has reached 35.001 trillion US dollars, which has exceeded the 35 trillion US dollar mark.
According to data from the United States Department of the Treasury, as of July 25 local time, the scale of federal government debt has infinitely approached the $35 trillion mark. According to previous calculations by United States Peter · Peterson Foundation, these huge debts are distributed to the United States people, which is equivalent to nearly $104,000 per person.
Recently, more and more United States politicians, businessmen and economists have expressed concerns about the United States debt problem.
EJ Anthony, an economist at the Heritage Foundation United States E.J. ·Anthony, recently said that in June this year, the amount of interest repaid on the federal debt by United States was equivalent to 76% of the monthly tax revenue. Musk, CEO of Tesla Inc. in United States, recently issued an article on this: "The United States is heading for bankruptcy. ”
Larry · Fink, CEO of BlackRock, one of the world's largest asset management groups, said in an interview with United States media that United States' deficit is the largest in the world and grows at the fastest rate in the world, and "we must find ways to minimize the impact of deficits on the economy, interest rates and inflation."
The size of United States federal government debt has accelerated in recent years. In September 2017, the size of U.S. debt exceeded $20 trillion. In February 2022, the size of U.S. debt exceeded $30 trillion. On June 16, 2023, the size of the federal government's debt exceeded $32 trillion.
The Peter · Peterson Foundation argues that technically, United States' growing federal government debt is largely caused by an aging population, rising health care costs, and insufficient tax revenues. Many media and economists believe that, fundamentally speaking, the shortcomings of the operating mechanism of the United States Congress and the indifference of major political parties to the debt problem are the main reasons for the accumulation of debt of the federal government. Some media outlets have noted that the issue of debt has barely been mentioned in the Democratic and Republican election campaigns around this year's election.
United Kingdom is bankrupt!
The previous government left a fiscal deficit of £22 billion
The United Kingdom Prime Minister's Office said on the 28th local time that the United Kingdom country has been "bankrupt and fragmented".
In the election of the House of Commons of the United Kingdom Parliament held on the 4th, the ruling Conservative Party was defeated, and the Labour Party won a landslide victory. This is the first time in 14 years that Labour has become the ruling party. After the formation of the new Labour government, the new Chancellor of the Exchequer of the United Kingdom, Rachel · Reeves, called for a comprehensive assessment of the need for public funds, and the results of the assessment were published in the United Kingdom Parliament.
On July 29, Reeves said the previous Conservative government had concealed the true state of public finances, leaving a £22 billion fiscal deficit.
Speaking in the House of Commons that afternoon, Reeves said the Treasury would take steps to reduce spending by £5.5 billion this year and more than £8 billion next year to make up for the fiscal deficit caused by the previous government. The Treasury will unveil Labour's first budget since taking office on 30 October, announcing new tax and spending plans.
Reeves said the Conservative Party's promised plan to build 40 new hospitals would be revisited and the nursing sector reforms scrapped to save £1 billion in spending by the end of next year. She also announced a cut in winter heating subsidies for some pensioners and a 20% VAT on private school tuition fees from January 1, 2025.
Former Chancellor of the Exchequer Jeremy · Hunt responded on the same day that the accusations about the previous government's huge fiscal deficit were false, and Reeves' speech tried to pave the way for future tax increase plans.
Source: China News Network, CCTV Finance, CCTV News