US national debt reaches record US$35 trillion
Tashkent, Uzbekistan (UzDaily.com) – The national debt of the United States has reached an unprecedented US$35 trillion, according to data from the US Department of the Treasury.
Projections by the US Congressional Budget Office indicate that this debt will increase from 99% of GDP in 2024 to 122% of GDP by 2034.
The International Monetary Fund (IMF) forecasts that by 2032, the US national debt-to-GDP ratio will exceed 140%. The IMF has expressed concern about such rapid growth rates, considering them a threat to both national and global economies. The fund has called for urgent measures to reduce the debt.
At the beginning of Joe Biden’s presidency in 2021, the US national debt stood at US$28 trillion.
