US National Debt Crosses 37 Trillion Dollars: What It Means for the Economy

The United States national debt has now crossed 37 trillion dollars, according to the latest update from the US Debt Clock. This means that every citizen in the country carries a share of over 107,000 dollars, while the average taxpayer’s share is more than 323,000 dollars.

Government Spending and Revenue

Federal government spending currently stands at approximately 7.17 trillion dollars, while total federal tax revenue is about 5.16 trillion dollars. This results in an official annual budget deficit of over 2 trillion dollars.

The US debt-to-GDP ratio has risen significantly over the decades. In 1960, it was about 52 percent. It now stands at around 123 percent, which is more than double the rate seen in the mid-twentieth century.

Total National and Consumer Debt

The total debt in the United States, including public, household, and business debt, has reached over 104 trillion dollars. The interest paid on this combined debt exceeds 5.46 trillion dollars.

Consumer credit card debt alone is now over 1.32 trillion dollars. The average credit card holder owes about 8,232 dollars.

Money Supply and Inflation

The United States money supply (M2) is now over 22 trillion dollars. Currency and credit derivatives have reached an astonishing 729 trillion dollars.

Since the creation of the Federal Reserve in 1913, the US dollar has lost more than 96 percent of its value, showing the long-term effects of inflation and continuous money printing.

Healthcare and Social Spending

Spending on Medicare and Medicaid is over 1.68 trillion dollars, while Social Security costs amount to about 1.52 trillion dollars. The total value of future financial obligations not currently funded is over 194 trillion dollars, including pensions, benefits, and healthcare promises.

Population and Labor Market

The current population of the United States is estimated at 341 million. The workforce includes around 169 million people.

Officially, about 7.25 million people are unemployed. However, the actual number of unemployed individuals, including those who are underemployed or not actively seeking work, is nearly 13 million.

Over 25 million Americans currently live without any form of health insurance.

National Assets and Wealth Distribution

The total value of the US stock market is estimated at 51 trillion dollars, while real estate is worth approximately 75 trillion dollars.

The US also holds about 1.22 trillion dollars in precious metal reserves. However, a large portion of national wealth remains hidden or unreported, with estimates of hidden assets reaching nearly 174 trillion dollars.

Trump Blasts Fed Chair Powell Over Delayed Rate Cuts

President Donald Trump sharply criticized Federal Reserve Chair Jerome Powell, accusing him of delaying interest rate cuts and costing the U.S. hundreds of billions. He called Powell destructive and claimed the Fed Board is enabling the damage. Trump urged immediate rate cuts to reduce the burden of Biden’s short-term debt.

Conclusion

The rising national debt, expanding budget deficit, and growing interest payments reflect a concerning trend in the US economy. Without significant policy reforms or improved financial planning, these figures may lead to long-term economic consequences such as higher taxes, reduced public services, and potential inflation.

Monitoring these key economic indicators is important not only for policymakers and financial experts, but also for everyday citizens seeking to make informed financial decisions.