"America's national debt has topped $38 trillion, and economists warn it could reach $39 trillion within months as borrowing accelerates. The bigger concern is the debt-to-GDP ratio, projected by the CBO to hit 156% by 2055, reflecting spending that far outpaces growth. In a statement to Fortune, Maya MacGuineas of the Committee for a Responsible Federal Budget called the milestone "appalling," criticizing Washington for ignoring the crisis. Michael Peterson of the Peter G. Peterson Foundation warned that "budgeting-by-crisis" is unsustainable."
"America's debt burden has hit $38 trillion. In fact, at the time of writing, it is $19 billion over that mark. Economists are warning that spectators won't have to wait long until debt hits the $39 trillion mark as the rate of debt accumulation is increasing with every passing day. Experts across the economy have been warning for years that America's fiscal trajectory is not stable."
America's national debt has surpassed $38 trillion and is rising rapidly, with forecasts that it could reach $39 trillion within months. The debt-to-GDP ratio stands near 125% now and is projected by the CBO to reach 156% by 2055, indicating spending growth far outpacing economic growth. Policy analysts warn that current fiscal paths are unstable and that Washington is not reducing spending sufficiently to rebalance finances. The primary fiscal risk is rising interest costs to service the debt rather than the existence of debt itself. Proposed fixes range from unconventional measures to calls for more disciplined, long-term budget planning.
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