Trump: fees received from the funds will be used to repay U.S. debt

ECONOMY

WASHINGTON, August 5. /Basereporter.com/. The funds received from the U.S. imposed duties, will be used to repay public debt. The corresponding message was published on Sunday on Twitter, the President of the United States Donald trump.

“Thanks to the fees we will be able to begin to repay a large national debt of $21 trillion, which was accumulated largely thanks to the Obama administration, at the same time we reduce taxes for our citizens. At least, we will do much better bargain for our country!” – wrote the President of the United States.

He once again pointed to the success that was achieved with the help of introduced by the US government fees. “Every country on earth wants to take the wealth of the US, always to our detriment. When they [foreign companies] come [to us], I say, obligate their taxes. If they don’t want to pay taxes, let them create or produce their products in the USA,” said trump, adding that this will lead to job growth in the country.

In mid-July, the Chairman of the Federal reserve system (FRS) that perform the functions of a Central Bank, Jerome Powell stated that the growth of the state sovereign debt of the United States exceeds the rate of economic development of the country. In turn, according to the IMF, the public debt of the United States will grow from 108% of GDP in 2017 to 117% of GDP in 2023.

The current debt problems of the United States – a legacy of the financial crisis of 2007-2008. Since then the country several times had to raise the debt ceiling.

During the eight years of the presidency of Barack Obama the U.S. national debt has grown by more than $9 trillion and almost reached us $20 trillion. Economists expect that by 2026 this figure could rise to $30 trillion. Nazmer U.S. GDP is currently estimated at $19.5 trillion.

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