U.S. National Debt Reaches 100.2% of GDP, Surpassing Size of Economy
By
Committee for a Responsible Federal Budget
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Summary
The U.S. national debt has reached 100.2% of GDP for the first time, totaling $31.27 trillion against a nominal GDP of $31.22 trillion. Maya MacGuineas of the Committee for a Responsible Federal Budget issued a statement noting the debt now exceeds the size of the U.S. economy and is roughly twice the historic average, raising concerns about fiscal responsibility.
Key quotes
· 2 pulledIt's happened – the national debt is now larger than the U.S. economy, about twice the historic average.
Debt held by the public on March 31 was $31.27 trillion, while nominal GDP was an estimated $31.22 trillion over the prior 12-month period.
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