Recent data highlights the growing concerns over national debt levels in major economies. In France, government debt as a share of GDP has increased from 85% in 2010 to 110% in 2023. Meanwhile, Germany has managed to reduce its debt-to-GDP ratio from 82% in 2010 to 65% in 2023. In the United States, the Congressional Budget Office (CBO) projects that the debt-to-GDP ratio could exceed 250% by 2054 if current fiscal policies continue. The rising debt levels have also resulted in U.S. interest costs outpacing defense spending since the beginning of 2024. Analysts warn that even without a recession, the U.S. faces a dire fiscal path with no revenue measures sufficient to halt the increasing deficit and interest payments. During the Great Depression, the U.S. debt-to-GDP ratio reached as high as 80%.
In the Roaring 1920's the US gov ran a surplus and paid down the debt. In the 2020's debt has soared. During the Great Depression, debt-GDP went as high as 80%. With no recession currently, the US is above 130% debt-GDP. Something to think about.
Even assuming no recession, the CBO projections estimate a disastrous deficit and interest payment path for the U.S. economy. There is no revenue measure that can end this death spiral. https://t.co/e131Am5exp
BIDENOMICS = RECKLESS SPENDING = SURGING DEBT. US interest costs = SPENDING FOR NOTHING = outpaced US defense spending since the beginning of 2024. https://t.co/uMHqmmnXsQ
The CBO just outlined how unsustainable the US' fiscal path really is: The US Debt-to-GDP ratio is set to exceed 250% by 2054, according to one of the CBO scenarios. This will happen if, over the next 30 years, discretionary government spending and revenues equaled their… https://t.co/LSO25ei6FC
Government debt as share of GDP. 2010 🇫🇷 France: 85% 🇩🇪 Germany: 82% 2023 🇫🇷 France: 110% 🇩🇪 Germany: 65%