US borrowing just crossed 100% of GDP — that’s over $35 trillion in national debt.

Some numbers to chew on:

• Debt-to-GDP ratio hasn’t been this high since WWII

• The US now pays nearly $1 trillion/year in interest alone

• By 2034, interest costs could outspend defense + all non-defense discretionary programs combined

So who’s holding the IOUs ? Top foreign owners of US debt:

1. Japan — ~$1.1 trillion
2. China — ~$770 billion
3. UK — ~$740 billion
4. Luxembourg — ~$370 billion
5. Canada — ~$350 billion

(The rest is held domestically….Social Security, Federal Reserve, pensions, etc.)

#NationalDebt #USEconomy #DebtToGDP #FiscalPolicy #EconomyWatch #m21 #TrillionDollarClub #WhoOwesWhom
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