Baku: The US national debt has surpassed the $36 trillion mark, with figures from usdebtclock.org indicating that every man, woman and child in America now owe more than $106,600, while taxpayers owe the equivalent of over $272,800, APA reports citing Sputnik. The data shows that the federal debt to GDP ratio now stands at 122.85% – up from 55.36% in the year 2000, and 34.71% in 1980.
According to Azeri-Press News Agency, when accounting for state, local, student loan, credit card, and personal debt, the total US debt is estimated to exceed $102.63 trillion. This amount nearly matches the $105.4 trillion value of the entire global economy in 2023. The growing debt has raised concerns about the financial stability and economic future of the United States, as well as the implications of a declining dollar and the rising influence of BRICS nations.