GDP increases as long as government debt increases as stock market bubbles inflationary also. The U.S. national debt is rising by $1 trillion about every 100 days
PUBLISHED FRI, MAR 1 202411:47 AM ESTUPDATED FRI, MAR 1 2024AT 5:28 EST
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Michelle Fox
@MFOXCNBC
The nation’s debt now stands at nearly $34.4 trillion, as of Wednesday.
Since June, the last two $1 trillion jumps occurred in about 100 days.
The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.
The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months.
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 billion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
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