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
