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US federal debt tops $36 trillion as dollar’s decline, BRICS’ rise take toll

US federal debt tops $36 trillion as dollar’s decline, BRICS’ rise take toll
# 16 November 2024 02:33 (UTC +04:00)

The US national debt has surpassed the $36 trillion mark, with figures from usdebtclock.org indicating that every man, woman and child in America now owe more than $106,600, while taxpayers owe the equivalent of over $272,800, APA reports citing Sputnik.

The data shows that the federal debt to GDP ratio now stands at 122.85% - up from 55.36% in the year 2000, and 34.71% in 1980.

Accounting for state, local, student loan, credit card and personal debt, US debt is estimated to total over $102.63 trillion – nearly matching the $105.4 trillion value of the entire global economy in 2023.

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