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The debt stood at 99.5 percent of GDP at the end of the 2025 fiscal year in September, revealing how quickly it has climbed.<\/p>\n\n<\/button><\/div>\nNew data places the U.S. national debt as a percentage of GDP above 100 percent for the first time since 1946 (Reuters)<\/div>\n<\/figcaption><\/figure>\n
In February, the nonpartisan\u00a0Congressional Budget Office\u00a0released a\u00a010-year budget and economic forecast\u00a0that warned that, if the current trajectory is allowed to continue unchecked, the U.S. will break the post-war record by 2030, when its public-held debt is set to hit a projected 108 percent.<\/p>\n
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The CBO also warned that, a decade from now, debt held by the public as a share of GDP would stand at 120 percent, all of which threatens to slow economic growth and deter private investment.<\/p>\n
The U.S. government is currently spending $1.33 for every dollar it collects in revenue and is facing a budget deficit projected at $1.9 trillion this year,\u00a0according to\u00a0The Wall Street Journal<\/em>.<\/p>\n\n
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However, President\u00a0Donald Trump\u00a0has continued to insist that all is well, responding to Thursday\u2019s\u00a0mixed first-quarter economic outlook\u00a0from the Commerce Department by\u00a0saying: \u201cMore people are working right now than at any time in the history of our country.<\/p>\n
\u201cWe\u2019re doing great. And there\u2019s more investment being made in the United States and any country at any time, at any time in history. And a lot of that, I and a lot of that maybe in a certain way, maybe more importantly, auto plants are all coming back to our country.\u201d<\/p>\n\n<\/button><\/div>\nPresident Donald Trump has continued to cheerlead for the economy, despite overseeing some highly mixed results, insisting: \u2018We\u2019re doing great\u2019 (AP)<\/div>\n<\/figcaption><\/figure>\n
Despite the president\u2019s cheerleading, a majority of the public remain concerned about inflation and the ongoing affordability crisis.<\/p>\n
That anxiety is perhaps most clearly expressed through Trump\u2019s\u00a0sliding approval ratings, with just 34 percent of respondents to a Reuters\/Ipsos poll earlier this week saying they approve of the job he is doing in the White House as gas prices climb because of the\u00a0Iran war.<\/p>\n
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Responding to the latest debt figures, Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget,\u00a0said\u00a0it was \u201conly a matter of time\u201d before the historic record was surpassed.<\/p>\n
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\u201cThis time, the borrowing isn\u2019t borne from a seismic global conflict, but rather a total bipartisan abdication of making hard choices,\u201d she said.<\/p>\n
“The higher we allow our debt to grow, the more we erode our own prosperity and that of future generations. Rising debt compromises affordability by slowing income growth, pushing up interest rates, and increasing inflationary pressures.<\/p>\n
\u201cDebt squeezes our budgets with massive interest costs. It exposes us needlessly to challenges from geopolitical rivals. And without corrective action, rising debt could spark a devastating fiscal crisis.\u201d<\/p>\n
She added that lawmakers \u201cneed to stop the bleeding\u201d to put the country\u2019s financial future on a more sustainable path.<\/p>\n","protected":false},"excerpt":{"rendered":"
The U.S.\u00a0national debt\u00a0is now larger than the economy as a whole, hitting levels not seen since the aftermath<\/p>\n","protected":false},"author":6,"featured_media":3117,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[49,7,48],"tags":[],"class_list":["post-3116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news","category-us"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/posts\/3116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3116"}],"version-history":[{"count":1,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/posts\/3116\/revisions"}],"predecessor-version":[{"id":3118,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/posts\/3116\/revisions\/3118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=\/wp\/v2\/media\/3117"}],"wp:attachment":[{"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.cedritech.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}