People’s Daily published a commentary article criticizing the U.S.’ debt problems. The article said that the U.S. government’s debt has become so high that it is nearly impossible to eliminate it. It is expected that, during Obama’s term, U.S. Treasury bonds will exceed 20 trillion dollars in value. The high level of debt will not only hinder U.S. economic growth, but will also have an adverse impact on world economic development.
The article said the U.S. debt problem is due to defects in the U.S. system, in addition to war expenses and the economic crisis.
The article concluded that the huge national debt of the United States has cast a shadow over the prospects for the U.S. economy. At the same time, it has become a threat to the stability of the world economy. If the amount of the U.S. Treasury bonds continues to grow without restriction, and the United States cannot take effective measures to alleviate the debt situation, the credibility of the U.S. dollar will become a big concern in the international community.
Source: People’s Daily, December 11, 2016