In the Last 19 Days, U.S. Debt Increasing at a Rate of $1.2 Billion per Hour:
Recent data indicates a significant spike in the United States national debt, with an increase of over $500 billion in the last 19 days. Tier1 Alpha, a professional insight provider, has been tracking this growing debt load in real-time. The current total U.S. debt increasing $33.521 trillion, with an additional $28 billion accrued daily over the 19-day period, equivalent to $1.2 billion per hour.
The accelerated accumulation of US government debt has raised concerns, reaching $1 trillion in just 45 days. Despite the risks associated with excessive leverage, the country’s liabilities continue to expand rapidly.
Bank of America strategist Michael Hartnett offers insights into the trajectory of the US government’s debt, predicting an increase of $5.2 billion daily for the next ten years. This projection, based on Congressional Budget Office (CBO) estimates, indicates a potential mismatch between the rate of debt growth and overall economic performance. According to CBO forecasts, the debt held by the public is expected to reach 118.9% of the Gross Domestic Product (GDP) by 2033, a significant rise from the current 98.2%.