The nation’s $38 trillion debt presents a growing risk to the global economy, the experts have warned
US national debt will surge to 140% of GDP within five years, the International Monetary Fund (IMF) has warned, urging Washington to slash its fiscal deficit to rein in outsized trade and current account gaps.
The US national debt has swelled to more than $38 trillion, and the fiscal shortfall is deepening, data shows. It represents a $2.25 trillion increase over the past year, with debt projected to hit $39 trillion by April. The federal budget deficit rose from roughly $1.4 trillion in fiscal year 2022 to about $1.8 trillion last year…
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