The US national debt has reached 31.27 trillion dollars, surpassing the Gross Domestic Product (GDP) of 31.22 trillion dollars, and rising to 100.2%.
Medianews.az reports that this is considered the first time since World War II that the debt has exceeded the size of the economy.
According to the data, as of March 31, the national debt was 31.27 trillion dollars, and the annual nominal GDP was 31.22 trillion dollars. Thus, the debt-to-GDP ratio has exceeded 100%, passing a critical level.
Experts call the situation a "strong signal." It is noted that the debt level is about twice the historical average, and the main reason for the increase is delayed political decisions.
It is reported that the debt ratio might surpass the post-war record of 106%. This time, the reason for the increase is not a global crisis, but a weakness in financial discipline.
It is emphasized that high debt raises interest payments, weakens economic growth, and strengthens inflationary pressure. To solve the problem, it is considered important to stop the increase in debt and reduce the approximately 10 trillion dollar budget deficit.
International agencies also report that the increasing debt poses a risk to the country's credit rating. It is noted that the total US debt has reached approximately 39 trillion dollars.
Medianews.az