U.S. National Debt Nears $38 Trillion as Borrowing Accelerates

[nihalsari]

America’s national debt stands at $37.9 trillion and is rising by nearly $4.2 million per minute, according to the U.S. Congress Joint Economic Committee. That’s about $6 billion a day — larger than the GDP of more than 30 countries. Rep. Keith Self warned on Friday that the debt could top $38 trillion within 20 days and possibly $50 trillion within a decade, calling for immediate fiscal action.

[Abdul Khan]

Insane number. At this point, even interest payments could crush future budgets.

[Nahid Hossen]

If borrowing keeps accelerating, inflation control will be near impossible. A global ripple effect is coming.