America’s national debt has grown by $2 trillion in less than a year, the latest data show
America’s national debt has surpassed $36 trillion for the first time in its history, the US Debt Clock – a website monitoring the nation’s finances in real time – reported on Friday.
In total, the US national debt grew by nearly 6% between January and November, increasing by $1 trillion in less than four months. In late July, the US Treasury announced that it had surpassed $35 trillion.
The debt accumulation speed appears to be growing as it amounted to $34 trillion in early January and then grew by $1 trillion in less than six months. The US Treasury has not officially confirmed the new data yet.
In August, the Congressional Budget Office said in its report that it expected the debt to reach a record of over 106% of GDP by 2027 and eventually rise to 122% by 2034.
