6 August 2024
The U.S. national debt has reached a staggering $35 trillion in 2024, increasing by $1 trillion since January alone. This milestone pushes the debt-to-GDP ratio to 98%, with projections suggesting it could exceed 140% by 2032 under current policies. The rapid accumulation of debt, which has grown by $11.8 trillion since 2020, raises concerns about fiscal sustainability. Despite the alarming figures, neither major political party has shown significant initiative to address the issue, highlighting a lack of political will to tackle the growing debt problem.