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In a first, America’s national debt crosses $30 trillion

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In a first, America’s national debt crosses  trillion

The U.S. national debt hit a new milestone, surpassing $30 trillion, according to data released by the U.S. government’s Treasury Department on Tuesday. Financial experts cited by US media such as CNN and Axios are still divided on “how much debt is too much” and how big an issue this really is for the country, but they all agree on one thing – the latest debt milestone is here A delicate transition period for U.S. fiscal and monetary policy, where borrowing costs are expected to rise and have broader effects on the economy.

Total outstanding public debt stood at $30.1 trillion as of Jan. 31, up nearly $7 trillion from what the country owed lenders in late January 2020 before the pandemic hit the economy, U.S. Treasury data showed.

There are many reasons behind the surge in public and intra-government debt in Washington — one of which is increased government spending during the Covid-19 pandemic. It is during this period (since late 2019) that the federal government has borrowed nearly $7 trillion from foreign investors, led by Japan and China, that will eventually need to be repaid, according to CNN.

Another reason cited by U.S. financial experts is the gradual accumulation of national debt since the 2008 financial crisis, nearly a decade before the pandemic.

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In December 2007, just as the global recession known as the Great Recession began, the U.S. national debt outstanding hit $9.2 trillion. According to CNN, when Donald Trump became president of the United States, the country’s national debt was already as high as $20 trillion.

Revenue losses from the 2017 Trump Administration’s Tax Cuts and Jobs Act (TCJA) tax cuts will add about $1-2 trillion to the federal government between 2018 and 2025, according to the Tax Policy Center. Debt, deficit increases could be exacerbated several times by the pandemic.

During the Biden administration, Congress also approved trillions of dollars in pandemic plans to support small businesses, unemployed workers and their families and other groups.

Complete News Source : Hindustan Times

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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