Can America afford its debts?
Can America afford its debts?
Can America afford its debts? According to recent IMF data, the U.S. ranks 8th in the world for its net public debt-to-GDP ratio. Since 1990, U.S. net government debt as a percentage of GDP has surged from 40% to 98%. While past debt spikes were linked to crises like the 2007-2008 financial crash and the 2020 pandemic, the debt-to-GDP ratio stabilized in-line with other G7 countries in between. However, the IMF now forecasts a continued rise in America's debt burden. Source: https://www.economist.com/graphic-detail/2024/07/19/can-america-afford-its-debts