US public debt reached 100.2% of GDP at the end of March, totaling $31.27 trillion against a nominal GDP of $31.22 trillion. This marks the first time since WWII that debt exceeds GDP. The annual interest bill is projected to hit $1 trillion by fiscal 2026, surpassing defense spending. Big Tech plans to invest $660 to $690 billion in AI infrastructure by 2026, raising concerns about the ability of capital markets to support both government deficits and tech investments.
"The United States government now owes more than the country produces, with debt held by the public standing at $31.27 trillion and nominal GDP at $31.22 trillion, pushing the ratio to 100.2 percent."
"Maya MacGuineas noted that the 1946 debt was borne from a seismic global conflict, while today's debt results from a total bipartisan abdication of making hard choices."
"The federal government will spend approximately $1 trillion on net interest in fiscal 2026, a figure that now exceeds the entire defense budget."
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