""It's happened - the national debt is now larger than the U.S. economy, about twice the historic average. We've heard plenty of alarm bells in the past few years about our fiscal path, but this one rings especially loudly. The real question is whether or not our leaders in Washington will listen.""
""The 100% milestone puts the U.S. on a collision course with its all-time high: the 106% debt-to-GDP ratio reached in 1946, in the immediate aftermath of World War II. Today's debt isn't borne from a seismic global conflict, but rather a total bipartisan abdication of making hard choices.""
The national debt of the United States has exceeded the size of the economy, with a debt-to-GDP ratio of 100.2%. As of March 31, the public debt was $31.27 trillion, while the nominal GDP was $31.22 trillion. Total gross national debt has surpassed $39 trillion, equating to about $114,000 per American. Experts warn that if current trends continue, public debt could reach 108% of GDP by 2030 and 120% by 2036, raising concerns about fiscal responsibility and future economic stability.
Read at Fortune
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