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The U.S. national debt broke a new record after crossing the $36 trillion mark for the first time as the federal government's mounting budget deficits cause the debt to surge.
According to the OECD, general government gross debt (federal, state, and local) in the United States in the fourth quarter of 2015 was $22.5 trillion (125% of GDP); subtracting out $5.25 trillion for intragovernmental federal debt to count only federal "debt held by the public" gives 96% of GDP.
Biden has overseen mounds of new red ink but has also overseen decreasing deficits, with the US running a $1.7 trillion deficit in fiscal year 2023 and on pace for a slightly better result this ...
Intragovernmental debt accounts for about $6.8 trillion of the national debt, the CRFB reported in September when the debt crossed the $33 trillion mark. The much bigger piece of the debt is held ...
Rising government debt burdens in the United States and elsewhere have become a growing cause for concern because of a recent rapid rise in interest rates, which has made it much more expensive to ...
Country or territory External debt (USD) Date Per capita Total % of GDP % of total wealth [1] United States of America 77,056: 26.5 trillion: 90.74 18.92: Mar 2024 [2] [3] European Union
The federal government's gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America's balance sheet in the ...
In fact, you’d have to go back to 1837 to find the last time the United States was debt-free. Texas was still an independent republic and only 26 states existed. So how big is the debt, really?