For first time since World War II, US national debt now larger than its economy

5 hours ago

U.S. national debt has exceeded the size of the economy, with a debt-to-GDP ratio of 100.2% as of March 31, based on public debt of $31.27 trillion and nominal GDP of $31.22 trillion.
Total gross national debt, including intragovernmental obligations, surpasses $39 trillion, equating to about $114,000 per American or $289,000 per household.
The debt-to-GDP ratio is approaching the post-World War II record of 106% from 1946, with projections indicating it could reach 108% by 2030 and 120% by 2036 under current trends.
Experts criticize the debt increase as a result of bipartisan failure to make tough fiscal choices, rather than emergency wartime spending, and warn it threatens future prosperity.
Proposals to address the debt include implementing 'Super PAYGO' rules for spending offsets and reducing deficits to below 3% of GDP, but current budget plans lack concrete solutions to stabilize the ratio.

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