United States national debt grows by $6 billion daily

The United States is experiencing a rapid increase in national debt, which is growing by an average of more than $6 billion per day according to U.S. Treasury data. Since 2007, the combined national debt of the 38 OECD member states has nearly tripled, rising from $22.5 trillion to a projected $61 trillion by 2025.

In the U.S., debt has climbed from $9 trillion to approximately $40 trillion during the same period. While the absolute figures are high, the debt-to-GDP ratio has risen from 107% in 2016 to 124%, as the economy grew from $19 trillion to $32 trillion. Allianz Investment Management estimates the U.S. budget deficit could reach approximately 5.7% of GDP this year.

This trend of rising indebtedness is a global phenomenon. Japan maintains a debt-to-GDP ratio exceeding 200%, while Germany's ratio remains relatively low at nearly 65%, despite concerns regarding the pace of new debt accumulation. France is also facing increasing debt levels. In China, IMF data indicates that the national debt-to-GDP ratio has more than doubled in ten years and is expected to approach 107% this year, while private sector debt is projected to reach 313% of GDP by 2025.