✉news BusinessEconomy first seen 5 h ago, last 57 min ago, peak #19
US federal debt now exceeds the size of the economy
Original: Federal debt surpasses size of economy for first time since World War II
Federal debt in the United States has surpassed the size of the national economy for the first time since World War II, meaning the debt-to-GDP ratio has risen above 100 percent. The milestone reflects massive government borrowing, driven by pandemic-related spending such as stimulus programs and emergency relief. Economists are debating the long-term consequences, with some warning of growing interest costs and pressure on future budgets, while others argue low interest rates make the debt manageable.
Why now: Government borrowing during the pandemic pushed US debt-to-GDP above 100 percent, a historic economic milestone.
United StatesFederal ReserveUS TreasuryCongressWashington Post
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- Federal debt surpasses size of economy for first time since World War II · The Washington Post
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