politics
U.S. Public Debt Hits $31.27 Trillion, 100.2% of GDP
U.S. debt held by the public reached $31.27 trillion as of March 31, surpassing the estimated nominal GDP of $31.22 trillion over the prior 12 months. The debt-to-GDP ratio hit 100.2%, according to the Committee for a Responsible Federal Budget. Policymakers and experts expressed concerns over fiscal implications amid rising interest payments.
May 1, 2:00 PM·2m read1 source
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U.S. 22 trillion. 2%, according to a press release issued on Thursday by the Committee for a Responsible Federal Budget, based on data from the Bureau of Economic Analysis.
U.S. borrowing requires more than $1 trillion in interest payments every year. Fed Chairman Jerome Powell stated that he wants policymakers to have an adult conversation about spending.
Bridgewater founder Ray Dalio has long warned of an economic 'heart attack' where public investment is crowded out by service payments on the debt. Jamie Dimon, CEO of JPMorgan Chase, said this week he expects a bond crisis to ensue at some point because the issue won’t be addressed in time by policymakers.
He added that the debt is a drag on the economy, with American families dealing with inflation and higher costs of living because of Washington’s spending addiction, and it’s only going to get worse until we cut up the credit cards and get serious.
N. She wrote on X that when the bill comes due, expect higher taxes, a weaker dollar, fewer services, a weaker military—and our kids stuck paying for it. A study released yesterday by the Peter G. Peterson Foundation found that 92% of voters said they were worried current debt levels are impacting prices of groceries, energy and housing.
The Peter G. The Peter G. The Peter G. Senator Rand Paul (R-Kentucky) told the Raging Moderates podcast on Wednesday that he opposed the war in Iran in favor of focusing on tasks at home. He told the Raging Moderates podcast that the biggest national security risk we face is our debt and that the further we go into debt the more we are at risk.
