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US national debt surpasses size of the economy for first time since World War II
The threshold reflects years of deficits and borrowing, and the Congressional Budget Office says debt could reach 120% of GDP by 2036 without policy changes.
- On March 31, the U.S. national debt held by the public reached 100.2% of GDP, officially surpassing the size of the entire American economy for the first time since World War II.
- Unlike the 1946 record set during global conflict, current debt levels stem from a "total bipartisan abdication of making hard choices," according to the Committee for a Responsible Federal Budget.
- Gross national debt has surpassed $39 trillion, amounting to roughly $114,000 per American or $289,000 per household, while the government spends about $1.33 for every dollar it takes in.
- Maya MacGuineas, president of the CRFB, warned that rising debt erodes prosperity by pushing up interest rates, urging lawmakers to adopt "Super PAYGO" rules and reduce deficits by about $10 trillion.
- The Congressional Budget Office projects debt held by the public will reach 108% of GDP by 2030, while one independent model estimates gross federal debt could hit nearly 126% by year's end.
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97 Articles
Daily Journal
U.S. debt tops 100% of GDP, 'deeply troubling' for economy, national security
(The Center Square) – The U.S. national debt is now larger than the entire American economy and is only set to keep growing, further exacerbating the affordability crisis and risking national security.
Today, we wake up with the news that the U.S. fiscal debt is the size of its already inflated “economy.” According to The Wall Street Journal, a medium that is not even jokingly liberal or chairo:“The national debt of the U.S. now exceeds 100% of the gross domestic product (GDP), crossing a threshold that was previously unthinkable, on the way to beating the record set after the Second World War.According to data published on Thursday, to March …
US public debt has surpassed 100% of GDP, reaching $31.27 trillion. Economists warn of impacts on wages, interest rates and public spending
US national debt surpasses size of the economy, as Trump administration demands surge in military spending
The US national debt has crossed 100 percent of gross domestic product for the first peacetime year since 1946, according to data released Thursday by the Bureau of Economic Analysis (BEA)—a milestone that arrives as the Trump administration is demanding a $1.535 trillion Pentagon budget and preparing for conflict with nuclear-armed China and Russia.
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