Quick Hit:
The U.S. national debt has reached $36.3 trillion, growing by $2.5 trillion in 2024 alone, as federal spending and rising interest rates push the debt to unsustainable levels.
Key Details:
The national debt now exceeds 100% of the U.S. GDP, marking a troubling fiscal milestone. Federal debt increased from $33.8 trillion in December 2023 to $36.3 trillion by December 2
4, 2024, according to the Senate Republican Joint Economic Committee. Projections by the Congressional Budget Office (CBO) estimate debt levels could hit $40.95 trillion by 2027 without significant reforms.