US Government debt accounted for 123.1 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 122.3 % in the previous quarter.
As inflation has risen to a 40-year high in the US,the current federal government's debt is going over its credit limit,meaning that each American is in debt of$93,000,according to reports.The US national debt surpassed$31 trillion for the first time amid higher interest rates at the be...
And if Trump defeats Biden in this year's presidential election, he promised to renew the tax cuts that expire next year. (A think tank from the Responsible Federal Budget Committee) said that if Trump renews tax cuts, the federal debt will increase by 5 trillion US dollars between 2026 an...
American government expenditures hit the debt ceiling earlier this year,and the Treasury says that in June,it will no longer be able to pay for government spending already authorized by Congress.Congress is responsible for approving all spending,and the president cannot spend money by himself.U.S....
21 GDP is the annual rate and inflation is for December of that year and is the year-over-year rate.67 YearUnemployment Rate (December)Annual GDP GrowthInflation (December, YOY)Notable Events 1929 3.2% NA 0.6% Market crash 1930 8.7% -8.5% -6.4% Smoot-Hawley 1931 15.9% -6.4% -9.3%...
2025, curbing the defense budget becomes unrealistic, signaling a potential exacerbation of U.S. debt solvency. On June 7, 2023, merely five days after the act's passing, U.S. Treasury Secretary Janet Yellen announced the issuance of an additional $1.3 trillion in federal debt over the ...
concept becoming mainstream, central bankers are increasingly reluctant to over-expose themselves to dollar-denominated debt. In 2022, the total ownership of Treasury securities held by foreign countries fell by a quarter of a trillion dollars. The federal deficit for the same year reached $1.38 ...
In addition, the Federal Reserve’s preferred measure of inflation, the PCE deflator, came in at 2.1% year over year in September, almost hitting the Fed’s target. We expect inflation to continue falling into 2025. The potential tariffs and deportations, however, represent the biggest changes...
ceiling increase when Obama was president. "The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy," S&P wrote in a report. Moody's has also sounded the alarm. They said, "The debt ceiling creates a high level of ...
Best States Family of Pilot Who Died on an Animal Rescue Flight to Receive Remains of Dog Killed in Crash The ashes of a big-eyed, brown and white puppy named Lisa that died last week in a plane crash in New York’s Catskill Mountains will be delivered to the late animal rescue pilot...