The US national debt reaches the highest level in history
The US national debt reached $35 trillion for the first time in history, according to the US Treasury Department.
According to estimates by the Congressional Budget Office, the national debt will rise from 99% of GDP in 2024 to 122% by 2034.
On the other hand, the IMF believes that the ratio of US public debt to GDP will exceed 140% by 2032.
The IMF expressed concern about the impact of the increase on the US and global economies, calling on authorities to take immediate action to reduce debt.
It should be noted that at the beginning of Joe Biden’s presidency in 2021, the size of the US national debt was $28 trillion.
