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What Is Pushing the National Debt to Its Limit?
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The U.S. national debt has increased by more than $8 trillion dollars since late January 2020, pushing the total debt over $31 trillion, according to the Treasury Department. Special accounting measures to avoid breaching the $31.4 trillion debt ceiling will run out as early as June.
When federal government spending exceeds revenue, creating a budget deficit, the U.S. covers the gap by selling securities, such as Treasury bonds. The national debt is the accumulation of all past deficits plus the interest owed on the resulting debt. Measuring the debt as a share of gross domestic product allows for comparing the level of debt over time relative to the size of the U.S. economy and for comparisons with other countries’ debt-to-GDP ratios.
Read more on wsj.comAbout this in other media
What Is Pushing the National Debt to Its Limit? wsj.com /1 year ago
What Is Pushing the National Debt to Its Limit? wsj.com /1 year ago
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