U.S. National Debt Sets Historic Record
In the first half of October, the figure rose by $250 billion and now stands at $40.4 trillion
U.S. government borrowing has set a new absolute record. According to the latest data from the U.S. Department of the Treasury, the total national debt of the country has reached $40.396 trillion.
In just the last two months, U.S. debt has increased by nearly $400 billion, with over $250 billion of this amount added in just the first half of October.
Financial analysts predict that if current trends continue, the figure will surpass $50 trillion by 2030. Meanwhile, the U.S. Congressional Budget Office points to an even more alarming prospect: by 2036, the national debt will exceed the country's gross domestic product by 20%.
The scale of the problem extends beyond a single economy. Earlier, the head of the International Monetary Fund (IMF), Kristalina Georgieva, warned that global government debt is rapidly approaching its highest levels since World War II and may soon exceed 100% of global GDP.
