US Government Debt Will Rise by $5.2B Every Day, Says Strategist

A new forecast from Bank of America strategist Michael Hartnett has shed light on the staggering trajectory of the U.S. government’s debt. According to Hartnett’s calculations, the national debt is set to surge by a staggering $5.2 billion each day for the next ten years.

This forecast, which is derived from estimates by the Congressional Budget Office (CBO), anticipates an increment of $5.2 billion in government debt every day for the next decade.

CBO projections point to a notable surge

The analysis sheds light on the potential disparity between the rate of debt escalation and the overall economic performance. According to CBO projections, the debt held by the public is projected to surge to 118.9% of the Gross Domestic Product (GDP) by 2033. Perhaps this marks a significant jump from the 98.2% recorded this year.

Also read: 61% Of Americans Are Living Paycheck to Paycheck: Report

Hartnett’s observations draw attention to the ongoing trends of central banks’ intervention to stabilize financial markets and governments’ efforts to support broader economic interests. Additionally, he envisions a future scenario where yield curve control becomes a prevailing policy strategy across G7 economies.

In addition to these projections, a new report highlights that a strong majority of American adults are still living paycheck to paycheck.