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Experts called the US debt «unbearable» for the government


October, 26 2023
watermark Economic news

Analysts say that US economic growth will not save the country from problems with a huge national debt, which currently amounts to $ 33 trillion.


By 2029, it is assumed that the ratio of public debt to US GDP will reach record values. Given the current high interest rates, servicing this debt may not be feasible.


Experts from the Peter G. Peterson Foundation argue that the country's debt will inevitably grow. This research organization, which studies the financial situation in the United States, notes that by the end of 2022, the debt-to-GDP ratio was 97%. It is expected that by the end of 2023 this figure will reach 98%, and by 2029 – 107%, which will be the highest figure in history. 


For comparison, after the Second World War in 1946, the debt-to-GDP ratio was 106%, but then fell due to favorable market conditions and the post-war economic boom.


According to forecasts, US GDP will grow by 5.4% in the third quarter. At the same time, the US government does not plan to cut the budget deficit in the near future and is preparing a new budget for the next fiscal year.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.