The U.S. national debt is now larger than the economy as a whole, hitting levels not seen since the aftermath of World War II, new data has revealed. Figures released by the Bureau of Economic Analysis Thursday place the total debt held by the American public at $31.27 trillion as of March 31. Meanwhile, the country’s nominal gross domestic product was estimated at $31.22 trillion, meaning the national debt as a percentage of GDP stands at 100.2 percent, putting it on course to challenge the historic 106 percent recorded in 1946 during demobilization. The debt stood at 99.5 percent of GDP at the end of the 2025 fiscal year in September, revealing how quickly it has climbed.

  • gravitas_deficiency@sh.itjust.works
    link
    fedilink
    English
    arrow-up
    135
    ·
    6 months ago

    It’s so hilarious and absurd that the GOP beats their chest so hard about being “the party of fiscal responsibility” - but only when they’re the opposition party.

      • gravitas_deficiency@sh.itjust.works
        link
        fedilink
        English
        arrow-up
        21
        ·
        edit-2
        6 months ago

        Oh, absolutely. But I’ll be honest: at this point, it just doesn’t surprise me anymore, and the general baseline idiocy, incuriosity, myopicism, and greed of the culture here are pretty big factors in why I have come to feel so alienated despite being born here, and why I’m thinking about emigrating a lot more seriously.

        I genuinely struggle to control my snark when people start talking about how we’re going to “recover” from this. “This” is a symptom, not the root cause. As far as I can see, the entirety of our political machine is hell bent on ignoring the root cause, because the root cause is too profitable - for now.

      • CmdrShepard49@sh.itjust.works
        link
        fedilink
        arrow-up
        19
        ·
        6 months ago

        Not just gullible enough to believe them but gullible enough to believe them over and over and over despite every past example proving otherwise.

    • Cargon@lemmy.ml
      link
      fedilink
      arrow-up
      13
      ·
      6 months ago

      Fiscal is the name of the 9 year old they pass around at the RNC convention.

    • boonhet@sopuli.xyz
      link
      fedilink
      arrow-up
      16
      ·
      6 months ago

      Untrue, you’re still exporting MAGA variety conservatism and apparently there’s demand for it, because there are plenty of people importing.

      And bombs, I hear you’ve exported some to Iran.

    • ragebutt@lemmy.dbzer0.com
      link
      fedilink
      English
      arrow-up
      8
      ·
      edit-2
      6 months ago

      Why do you think a war was started for no reason

      95% of domestic manufacturing that remains is military shit. Can’t have China do the injection molding and machining for your top secret bombs meant to do genocide

  • henfredemars@infosec.pub
    link
    fedilink
    English
    arrow-up
    14
    ·
    edit-2
    6 months ago

    Fed is screwed and still printing $40B/wk for “liquidity” on US treasuries because the market doesn’t want our debt.

    Can’t raise interest rates to control inflation or the weak economy (when you exclude AI) gets crushed and interest on the debt explodes. Most of our debt is on short end bills so we feel the burn the moment that interest rates rise.

    Can’t lower rates or inflation soars even higher.

    I would ensure you have some hard assets. The money printers are whirring and devaluing dollars seems to be the most likely exit strategy in the long run.

    Not financial advice. I’m a fool.

  • Tollana1234567@lemmy.today
    link
    fedilink
    arrow-up
    11
    ·
    edit-2
    6 months ago

    it is designed by gop to assign blame to the next DEM(totally complicit as far as DInos goes) administration like they always do,.

    did you notice the current shutdown has never hit the airwaves at all, the MSMs realizes the last on scared even the republican voters, so they dint report this one at all. anything to avoid the epstein files.

  • hansolo@lemmy.today
    link
    fedilink
    arrow-up
    8
    arrow-down
    1
    ·
    6 months ago

    Why does this keep coming up like it just happened?

    We hit a 100% debt/GDP ratio in 2012.

    We hit 125% in 2020 during COVID.