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US to borrow record $3 trillion as spending soars due to Coronavirus

US to borrow record $3 trillion

US to borrow record $3 trillion as spending soars due to Coronavirus, which will be spent on health-related financial aid and virus-related assistance, including direct payments.

According to the details, the coronavirus has shaken the economies of the world, not only the developing but also the developed countries could not escape from its effects, in this situation the superpower America has been forced to borrow.

According to details, the US to borrow record $3 trillion for the first time in the second quarter, to be raised from the sale of bonds to cover the heavy costs of Corona virus-related projects. The money will be spent by the United States on health-related funding and virus-related assistance, including direct payments.

It is believed that the United States had earlier taken a loan at the height of the financial crisis in 2018, but this amount of 30 trillion is five times more than the previous loan. In 2019, the United States also borrowed 29 trillion 70 billion dollars. The total volume of debt of the United States is 250 trillion dollars.

CoCoronavirusas killed 69,000 people in the United States, while the US president has expressed fears that the death toll could rise to 100,000.

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