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US national debt surged by more than $500 billion in just 20 days to reach $33.5 trillion, according to data provided by the Treasury Department last week.

On September 18, the Treasury reported that the amount of money borrowed by the federal government to cover operating expenses stood at $33.04 trillion. It took Washington three months to drive it from $32 trillion to the current level.

The debt ceiling, which was legally set at $31.4 trillion, was surpassed in January 2023.

The total output of the US economy was only $25.46 trillion, meaning that the economy would have to grow by 33.5% to cover the national debt.

The White House has been pressing Congress to lift the limit. On June 3, President Joe Biden signed a bipartisan debt bill that allowed the limit to be lifted until January 2025, thus averting an economically disastrous default.

The deal on raising the debt limit was fiercely debated by Republicans and Democrats for weeks. The prolonged dispute over spending priorities put the measure’s approval at risk amid fears that the Republicans, who hold a majority in the House, would refuse to support the Fiscal Responsibility Act.

A default would have limited the government’s ability to borrow or pay its bills, possibly triggering financial havoc overseas, with a massive negative impact on prices and mortgage rates in other countries.

https://www.rt.com/business/584657-us-national-debt-surge-record/

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By Gus Leonisky at 13 Oct 2023 - 7:55am
Gus Leonisky's blog
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disrupting....

The world is facing a “classic revolutionary situation” in the field of international relations, the head of the Russian Foreign Intelligence Service (SVR), Sergey Naryshkin, said on Thursday. An ever-increasing number of the “rising powers” around the world want more independence in their foreign policy and dislike the crumbling hegemony of the West, which it is desperately trying to preserve, he added.

“The West, led by the US, can no longer ensure its dominance on a global scale,” Naryshkin told a meeting of intelligence chiefs of the Commonwealth of Independent States (CIS) in Baku. “The rising centers of power do not want to put up with an aggressive Western dictate.”

In its efforts to maintain a unipolar world, the US deliberately tries to destabilize key world regions, he believes. Washington and its allies in London and Paris do not hesitate when it comes to manipulating various destructive forces on the international arena to achieve these goals, he stated, adding that the list of such forces includes international terrorist groups, radical Islamists, and ultranationalist movements.

According to Naryshkin, America’s efforts have disrupted the peace process in Syria and exacerbated the situation in Afghanistan. They have also recently turned their eyes towards Africa, where they have allegedly encouraged various militant factions to launch attacks against the infrastructure in Mali and the Central African Republic, the Russian spy chief said, citing what he called “reliable information” in his agency’s possession.

The West orchestrates “sabotage operations against African nations that are friendly to Russia,” Naryshkin claimed, adding that the group of the seven biggest developed economies known as the G7 also “actively work against Russia.”

The West openly hosts and supports various “separatist terrorist structures calling for subversion of the Russian state order and violation of its territorial integrity,” the official said, naming the so-called ‘Free Nations of Post-Russia’ Forum among them.

A loose association of various opposition activists, as well as ethnic and regional separatist movements, the forum openly advocates the disintegration of Russia under the slogans of “decolonization” and “de-occupation.” In March, it was designated an “undesirable organization” in Russia. Three meetings of the forum have already been hosted, with two taking place in Poland and one in the Czech Republic. The fourth meeting is scheduled to be held in Sweden in December.

“It is obvious to any sensible person that the manifestation of such … desires would have led to Eurasia plunging into a horrible ethnic and religious conflict,” Naryshkin said, calling it evidence of Washington’s intent to “set the Eurasian continent on fire.”

The West is “playing with fire” and “the future of the world order is at stake,” he warned, calling on “more responsible global and regional actors” to join their forces and coordinate their efforts to prevent destabilization instigated by the West and lead the world towards a multipolar world order.

https://www.rt.com/russia/584782-struggle-new-world-order-intensifying/

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