U.S. Debt To Reach $57 Trillion at Current Rate

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The U.S. debt has crossed the $34.4 trillion mark and is growing at an alarming pace. If the debt continues to grow at the same rate, it could reach $57 trillion by 2030. This represents a 70% increase from the current level and a year-on-year growth of 11.6%. The growing debt is putting pressure on the American economy and could lead to a financial crisis similar to the 2008 stock market crash. The slow growth of the U.S. GDP compared to the debt growth is a cause for concern. The equity and commodity markets could be affected, leading to job losses across major sectors.

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