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WASHINGTON, KOMPAS.com – The United States government said it would seek a debt of US $ 3 trillion or the equivalent of around Rp 45.3 trillion (exchange rate of Rp 15,100 per US dollar) in the second quarter of 2020.
This is the highest record debt sought by the United States government. The reason is that the corona virus-related rescue stimulus packages undermine the government’s budget.
Reporting from The bbcOn Tuesday (5/5/2020), the figure was five times higher than the previous quarterly record.
Also read: Pandemic Covid-19, Government Try to Retired Rp 20 Trillion Debt
This figure exceeds the debt sought by the United States government during the 2008 financial crisis.
As for 2019, Uncle Sam’s country withdrew a debt of $ 1.28 trillion.
Meanwhile, some time ago, the United States government approved a $ 3 trillion corona virus-related rescue package. This includes funds for the health sector and direct cash assistance.
In total, the current debt of the US government. USA It reaches almost 25 trillion US dollars or equivalent to around Rp 377,441 trillion.
The latest stimulus package launched by the United States government to manage and save the coronavirus economy is equivalent to approximately 14 percent of the United States’ gross domestic product (GDP).
Also read: Faisal Basri reminds the government not to go into debt when the Covid-19 pandemic
The government also extended deadline tax payment on April 15.
There are ongoing discussions about additional assistance, although some Republican politicians have expressed concern about the high spending that has caused the US debt to skyrocket.
The United States will attract debt by selling government bonds (United States Treasury).
Historically, United States government bonds have enjoyed relatively low interest rates because investors around the world consider them relatively low risk.
But even before the corona virus, the country’s debt burden has increased to a level that many economists believe puts long-term growth at risk, because the country spends more than necessary.
The US Congressional Budget Office. USA He predicted last month that the budget deficit would reach $ 3.7 trillion this year, while the national debt rose above 100 percent of GDP.
Investors in foreign countries have also historically been major holders of US debt. Japan, China and the United Kingdom topped the list in February 2020.
Alan Blinder, professor of economics and public policy at Princeton University, said that for now the trend of low interest rates showed that investor interest in United States bonds remained high.
