☕ The US Government has a debt problem, but it's improving.
Thursday: Data Dive — Some charts that will make you think
Federal debt held by the public as a percent of Gross Domestic Product:
This equates to just over 100k in public debt per capita in the US:
Total gross national debt amounts to $106,442 per person or $273,891 per household.
https://www.jec.senate.gov/public/vendor/_accounts/JEC-R/debt/Monthly%20Debt%20Update.html
Who holds the US debt:
Federal debt held by the public projections:
The good news is the daily increase in national debt is decreasing:
We’ll see if we can get the daily increase in national debt <0, but don’t hold your breath.
So What?
I don’t know. All I know is households holding a ton of public debt is not great. The future will be interesting, and unless we can get the debt down, something will crack. The US must pay interest on this debt, as they cannot afford not to. We also want to fight inflation, so printing a whole lot of money is not great either.
The US Government is in a tough spot.