US Federal Debt Nears $40 Trillion as Debt Load Hits 125% of GDP
Updated
Updated · Fox News · Aug 21
US Federal Debt Nears $40 Trillion as Debt Load Hits 125% of GDP
3 articles · Updated · Fox News · Aug 21
Summary
$40 trillion in federal debt is now within reach for the United States after the total rose roughly $3 trillion in the past year.
125% of GDP debt and about $2 trillion annual deficits reflect what the report describes as persistent spending growth without credible funding plans.
$64 trillion in debt within a decade is the current trajectory even without new wars, recessions or major programs, according to the projections cited.
$86 trillion in unfunded Social Security and Medicare obligations adds to the fiscal strain, widening concern that future promises far exceed available funding.
Post-World War II debt peaked at 114% of GDP before falling under 50% through restraint and growth, underscoring how far current policy has diverged.