The U.S. national debt topped $34 trillion for the first time ever, crossing a critical milestone at a time when government spending is already under scrutiny.
Please allow me to disagree with your numbers of "debt-to-GDP":
As of 03 Jan 2024, the US national debt-to-GDP ratio is not available in the sources provided. However, in 2022, the US recorded a Government Debt-to-GDP ratio of 129% of the country's Gross Domestic Product. The debt-to-GDP ratio is important because investors worry about default when the ratio is greater than 77%, which is the tipping point according to the World Bank. The debt-to-GDP ratio is a better indicator of a country's fiscal situation than just the national debt number because it shows the burden of debt relative to the country's total economic output and therefore its ability to repay it. The US debt-to-GDP ratio surpassed 100% in 2013 when both debt and GDP were approximately 16.7 trillion.
Another key metric is deficit-to-GDP, which is presently dangerously unacceptable @ >6% and growing. See this excellent Tucker Carlson content for illumination on how poorly the US Government and the Federal Reserve are managing our economy and federal budget:
Please allow me to disagree with your numbers of "debt-to-GDP":
As of 03 Jan 2024, the US national debt-to-GDP ratio is not available in the sources provided. However, in 2022, the US recorded a Government Debt-to-GDP ratio of 129% of the country's Gross Domestic Product. The debt-to-GDP ratio is important because investors worry about default when the ratio is greater than 77%, which is the tipping point according to the World Bank. The debt-to-GDP ratio is a better indicator of a country's fiscal situation than just the national debt number because it shows the burden of debt relative to the country's total economic output and therefore its ability to repay it. The US debt-to-GDP ratio surpassed 100% in 2013 when both debt and GDP were approximately 16.7 trillion.
Another key metric is deficit-to-GDP, which is presently dangerously unacceptable @ >6% and growing. See this excellent Tucker Carlson content for illumination on how poorly the US Government and the Federal Reserve are managing our economy and federal budget:
https://tuckercarlson.com/uncensored-thefed-biden-economicchaos/
Thanks for the value add!