⚠️BREAKING: US federal debt reached $35.7 trillion, a new all-time high
US national debt jumped $345 BILLION in just 3 days
On October 1, the US public debt hit a jaw-dropping $35.7 trillion, a new record. Since September 27, it spiked by $345 billion or over $100 billion a day.
Since 2020, federal debt skyrocketed by $12.5 trillion while the US GDP by ‘only’ $7.1 trillion. In other words, the federal debt has risen almost TWICE as fast as the world’s largest economy.
As a % of GDP, the US national debt is 123%, not far away from its all-time record reached in 2020 of 126%. It is only a matter of time until it exceeds this threshold. Interestingly, among G7 countries, only Japan and Italy have higher ratios.
Why is this important and how this trend will likely shape over the next few years? You will find an answer in the below very comprehensive analysis.
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More debt means