What Happened
Economic Watchdog Warns Of Fiscal Crisis
The United States has crossed a critical threshold, with its national debt now exceeding the size of its entire economy. As of March 31, debt held by the public stood at $31.27 trillion, while nominal GDP over the prior 12-month period was an estimated $31.22 trillion, pushing the debt-to-GDP ratio to 100.2%. The Committee for a Responsible Federal Budget warned that this milestone signals a need for fiscal reform, with the Congressional Budget Office predicting further increases in debt held by the public. This development was first reported by Fortune.