There is a debate about debt in America. Let us know how much is US debt.
Let us tell you that in the last ten years, there has been a steady increase in the national debt of America every year.
In the meeting of the US Congress, there is a discussion about what should be the national debt limit of the country.
The national debt limit is also being considered the most important legislative issue for the 2023 elections.
The US Treasury Department will release a quarterly document next week detailing its funding plans over the next three months.
The total US federal debt by November 2022 was $31 trillion. This debt is 121.8% of the total GDP of America.
To maintain this debt till December 2022, the USA had to spend $210 billion, which is 15% of the total federal expenditure.
In March/April the Congressional Budget Office will release new budget estimates for FY 2023 and FY 2024.
These 2023 and 2024 budget projections provide a clear view of US government cash flow and federal spending.
The US remains the largest global superpower, economically and militarily, despite having a debt of $31 trillion.