What no one will tell you about the national debt — but I will
The U.S. national debt just crossed a once-unthinkable threshold on the way toward breaking the record set in the wake of World War II: It now exceeds 100% of America’s gross domestic product. As of March 31, our publicly held debt was $31.27 trillion, while America’s GDP in 2025 was $31.22 trillion. This puts the ratio at 100.2%, compared with 99.5% when the last fiscal year ended Sept. 30. That 100.2% figure will likely climb, because the federal government is running historically large annual deficits of nearly 6% of GDP, which add to the debt. The final tally will depend on ...