U.S. Debt Surpasses Entire Economy, Raising Alarms Over Fiscal Future
The United States has crossed a historic financial threshold, as the nation’s debt held by the public has now exceeded the size of its entire economy. New data from the Bureau of Economic Analysis shows that U.S. national debt reached approximately $31.27 trillion as of March 31, while nominal gross domestic product (GDP) stood slightly lower at $31.22 trillion over the previous 12 months.
