Washington-SANA
US Treasury data showed that US government debt exceeded $ 23 trillion for the first time in history.
The figure includes $ 17 trillion in public debt and $ 6 trillion in government agencies, media quoted the ministry's daily report as saying.
Media reports indicate that government debt has increased by 16 percent since Donald Trump took office in January 2017, when debt was at $ 19.9 trillion.
US debt surpassed the $ 22 trillion level for the first time 10 months ago, and that level of debt would cause borrowing costs, interest rates and budget burdens.
In the fiscal year 2019, the government allocated $ 376 billion to pay interest rates on debt, noting that the US budget deficit reached $ 984 billion in 2019.
The IMF forecasts that US government debt could increase from 108 percent of GDP in 2017 to 117 percent in 2023 and economists are likely to reach $ 30 trillion by 2026.
