U.S. Debt Balloons to Over $33 Trillion, Fueling Wall Street Worries Over Impact on Growth
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The US's debt burden has ballooned to over $33 trillion, sparking concern on Wall Street and contributing to the Treasury bond rout.
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The US's debt-to-GDP ratio has steadily increased since 2000, passing 100% in 2019 - a threshold where debt can drag on growth.
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The US is one of just 21 countries where debt exceeds GDP, putting it alongside Greece and Sudan.
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Some believe "bond vigilantes" who try to punish loose fiscal policy are fueling the Treasury meltdown.
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With debt projected to keep rising by trillions, Wall Street will likely continue worrying about the deficit's impact.