By Evaristo Lara
The Bureau of Economic Analysis (BEA) presented a report highlighting that the national debt of the United States has already exceeded 100% of the gross domestic product (GDP).
In more precise terms, it is detailed that, As of March 31, the public debt was $31.27 billion; while the GDP of the last year reached $31.22 billion dollars.
These figures indicate that more than the total monetary value of the goods and services produced nationally has been spent during a year.
In September, when the fiscal year 2025 closed, the national debt stood at 99.5% of GDP and a semester later it reached 100.2% of GDP.
However, the outlook looks even more disconcerting, as it is projected that it could surpass the record of 106% of GDP reached immediately after World War II, in 1945.
Through a statement, Marc Goldwein, senior vice president of the Committee for a Responsible Federal Budget, pointed out that debt has been increasing due to the position taken by both Republicans and Democrats when making decisions related to the approval of the annual budget with which the government operates.
“It has happened: the national debt is now larger than the US economy, approximately double the historical average,” he said.
Subsequently, Goldwein acknowledged feeling concerned about the reluctance of politicians to address the problem of spending more than the US economy generates.
“In recent years we have heard many alarm signals about our fiscal situation, but this one resonates especially strongly. The real question is whether our leaders in Washington will listen to us,” he stressed.
Since February, The Congressional Budget Office (CBO) had already anticipated that, if left unchanged, public debt would increase to 108% of GDP by 2030 and 120% in 2036.
In statements issued to the newspaper The Wall Road JournalMarc Goldwein warned of the implications ahead should the government continue to spend excessively.
“Increasing debt compromises the ability to pay by slowing income growth, raising interest rates and increasing inflationary pressures. Debt compresses our budgets with huge interest costs.
The more we allow our debt to grow, the more we erode our own prosperity and that of future generations,” he noted.
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