America is trapped in debt cycle, Biden’s economic package will increase difficulties

78-year-old Joe Biden will take the oath of office of the United States of America, considered the most powerful country in the world after a few hours. In view of the fear of violence by Trump supporters at the swearing-in ceremony, the whole of Washington has been converted into a military camp. For the first time, 25 thousand soldiers have been deployed in the swearing-in ceremony of a President.
Seeing the grandeur of the swearing-in ceremony of the new President Joe Biden, no one can say that this world’s most powerful nation is completely in debt. Explain that this large loan will be financed by Federal Bank of India like Federal Bank of India.
If you add Biden’s announced package, the US government has spent $ 3.5 billion on its people so far through the economic package in the last 9 months. It is a matter of concern for the new President of America that despite the large economic package given during the Corona epidemic, the growth rate there has been constant and weak. The outbreak of pandemonium is also increasing and there is a slowdown in the markets. So far, more than three and a half lakh people have died due to corona, while 4000 new cases are coming almost daily.It is believed that the economic package that Biden will give to the people of the country is a bitter medicine for America which it is in his interest to drink. Because of the epidemic, the poor people in America have no money, the middle class is upset and unemployment is at its highest level. These problems will be overcome by this economic package, but if it has the opposite effect, then the economic challenges of America will increase further.
Now if the national debt of America is divided among the 32 crore people there, then every citizen of the country has a debt of about $ 23500… ​​Some experts blame Trump’s poor policies for this, some economic experts say that Barack Obama and the governments before him have been responsible for this. However, it is also being said that Trump had come to power promising to reduce the national debt of the country, but during his reign this place of decrease has increased further.

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