CBO News & Analysis

U.S. National Debt Exceeds 100% of GDP, Approaching 1946 Record

The U.S. national debt surpassed 100% of GDP last month, moving towards a projected record of 106% set in 1946. According to the Congressional Budget Office, this record may be exceeded around 2029. Current national debt figures stand at $31.4 trillion, significantly influenced by policies from both political parties. Deputy Chief of Staff Stephen Miller attributed part of the debt increase to unauthorized immigrant spending, claiming it costs taxpayers hundreds of billions to trillions of dollars in misappropriated benefits.