U.S. debt has surpassed 100% of GDP for the first time since WWII

Debt held by the public neared $32 trillion as of late July, crossing 100 percent of GDP on a sustained basis for the first time since 1946. Total public debt outstanding hit $39.797 trillion on July 28, with borrowing accelerating by over $407 billion since July 1 amid a projected $1.9 trillion fiscal year deficit. The Congressional Budget Office forecasts it climbing to 120 percent by 2036, though some analysts point out it’s lower relative to private wealth than in the 1940s, stressing that sustainability hinges on growth, interest rates, and policy.