U.S. Public Debt Surpasses 100% of GDP for First Time Since 1946
The U.S. publicly held debt has reached $39.4 trillion, surpassing 100% of GDP for the first time since World War II and is projected to hit $50 trillion by 2030 due to large annual deficits. Rising interest costs from refinancing at higher rates are creating a self-reinforcing debt spiral.
Topics: GDP ratio household financial planning interest costs U.S. national debt