US national debt exceeds $36 trillion
According to the latest data, the US national debt has increased by nearly 6% since the start of the year, exceeding $36 trillion. Read Full Article at RT.com.
TroibNews 
America’s national debt has officially exceeded $36 trillion for the first time in history, according to the US Debt Clock, a website that tracks the nation's financial situation in real time.
The national debt increased by nearly 6% from January to November, adding $1 trillion in just under four months. The US Treasury noted in late July that it had surpassed the $35 trillion mark.
The rate of debt accumulation appears to be accelerating, with the national debt at $34 trillion in early January and gaining $1 trillion in less than six months. The Treasury has yet to provide official confirmation of these recent figures.
In its August report, the Congressional Budget Office projected that the debt would reach over 106% of GDP by 2027 and climb to 122% by 2034.
The International Monetary Fund presented an even more concerning forecast in its US economic outlook report published in July. It stated, “Under current policies, the general government debt is expected to rise steadily and exceed 140% of GDP by 2032.”
Additionally, the IMF warned that “high fiscal deficits and the ongoing increase in the US public debt to GDP ratio pose risks not only for the US but also the global economy” and emphasized “the pressing need for a frontloaded fiscal adjustment.”
Tech billionaire Elon Musk, assigned by President-elect Donald Trump to explore methods of improving government efficiency, has indicated that the US faces potential default on its debt.
He remarked on X last month, “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs.” Musk has cautioned that if debt continues to escalate at the current rate, “the only thing we’ll be able to pay is interest.”
Lucas Dupont for TROIB News
The national debt increased by nearly 6% from January to November, adding $1 trillion in just under four months. The US Treasury noted in late July that it had surpassed the $35 trillion mark.
The rate of debt accumulation appears to be accelerating, with the national debt at $34 trillion in early January and gaining $1 trillion in less than six months. The Treasury has yet to provide official confirmation of these recent figures.
In its August report, the Congressional Budget Office projected that the debt would reach over 106% of GDP by 2027 and climb to 122% by 2034.
The International Monetary Fund presented an even more concerning forecast in its US economic outlook report published in July. It stated, “Under current policies, the general government debt is expected to rise steadily and exceed 140% of GDP by 2032.”
Additionally, the IMF warned that “high fiscal deficits and the ongoing increase in the US public debt to GDP ratio pose risks not only for the US but also the global economy” and emphasized “the pressing need for a frontloaded fiscal adjustment.”
Tech billionaire Elon Musk, assigned by President-elect Donald Trump to explore methods of improving government efficiency, has indicated that the US faces potential default on its debt.
He remarked on X last month, “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs.” Musk has cautioned that if debt continues to escalate at the current rate, “the only thing we’ll be able to pay is interest.”
Lucas Dupont for TROIB News
