Charted: U.S. National Debt Reaches $35 Trillion

By Dorothy Neufeld – Visual Capitalist

The U.S. national debt hit a new $35 trillion landmark, just halfway into 2024.

Since January, the U.S. debt pile has expanded by $1 trillion alone, moving the debt-to-GDP ratio to 98%. By 2032, the International Monetary Fund projects that this ratio could surpass 140% under current policies. Despite the looming threat to U.S. fiscal sustainability, neither Republican or Democratic parties show political incentive to address the rapid pace of borrowing.