A large sign outside the Bank of America Tower in New York is reminiscent of passers -by how quickly the country’s public debt is growing.

The “debt clock”, it is said, fueled daily with data from the Treasury, has been alarming for the new Donald Trump government.

His last indication was 36.5 trillion. dollars or almost 123%of GDP, a percentage of more than 2000 (59.2%) and overflow of 1980 (34.5%).

The rate of debt growth after 2000 was impressive as federal budget expenditure was much higher than the revenue over the years, culminating in the periods of the great financial crisis and crowning, when the deficits caught “ceiling”.

For the fiscal year 2024, which relates to the period from 1 October 2023 to September 30, 2024, theExpenditure amounted to 6.7 trillion. dollars and revenue in 4.9 trillion, leaving a 1.8 trillion deficit. covered by borrowing.

Meanwhile, from the end of last September to the present, the deficit (on an annual basis) continued to grow and reached 2 trillion. dollars, according to the “debt clock”. Expenditures exceeded 7 trillion. dollars, with almost half of social security (1.5 trillion) and health care (1.7 trillion for Medicare/Medicaid programs).

The most worrying thing is that the costs of paying interest exceeded 1 trillion. And they are the third largest category, with defense spending on $ 880 billion.

The deficits are covered by issuing bonds and bonds, resulting in debt following this exponential course, which is projected to continue unless drastic measures are taken. The International Monetary Fund estimates that US debt will reach 130% of GDP before 2030, while the Congress Committee on budget sees it to 166% in 2054.

The danger to the US economy from the uncontrolled debt course is now too high to ignore. High debt maintains high US government lending rates – the yield on 10 -year bonds has been more than 4.5% in recent months – creating a vicious circle that destabilizes the country’s fiscal position.

“This danger also explains President Trump’s study of entrusted to the entrepreneur and richer in the world, Ilon Musk, to make sweeping cuts in public spending and to give him increased responsibilities as head of the Ministry of Efficiency Dog).

Trump’s moves to impose duties, which disturb the system of world trade may have more promotion, but the US is also dominated by MSK’s initiatives to drastically reduce the number of civil servants and close entire public services and agencies. .

In less than a month that the new government took over, Musk has given the voluntary exit option to the approximately 2.3 million US government officials with an 8 -month wage compensation and, according to Reuters, alerted new employees who had been hired. In the last two years and they had not been fixed that their contracts would not be renewed. In addition, it announced the abolition of the USAID and the Consumer Financial Protection Bureau. About 75,000 employees have accepted the voluntary exit.

Speaking, via teleconferences, at the World Government Summit in Dubai, Musk made his intentions clear, saying: “I think we have to remove entire services, instead of leaving them behind … It’s like leaving a weed. If you do not take the weed roots, it will be easy to grow up again. If you do not take its roots, this will not stop the weeds from returning, but it will make it more difficult. “he said.

These moves have caused a stir in America, with many being blocked by temporary judicial decisions and Musk to put against those judges. Speaking to reporters at the Oval Office, in the presence of Trump, Musk justified his initiatives, stressing that if the costs were not reduced, the country would go bankrupt and that the deficit exceeded 2 trillion. dollars. Its purpose, he said, is to reduce costs by 1 trillion. dollars.

The reduction in spending is even more urgent for the new government, because Trump is pre -election that he will continue and expand the tax cuts he had established in his first term and therefore the deficit would increase without measures to reduce spending. He also bets on additional revenue from new duties to cover tax cuts, but according to analysts they are expected to be less than the losses that will exist due to tax relief.