US Budget Deficit Balloons by $1.1 Trillion: Is America’s Massive Debt Bubble About to Burst?

US Budget Deficit Balloons by .1 Trillion: Is America’s Massive Debt Bubble About to Burst?

The US is the most heavily indebted nation on Earth, with the national debt standing at over $31.7 trillion, or 125% of GDP. When accounting for personal, local and state obligations, the figure is triple that – $95 trillion – equivalent to the GDP of the whole planet. How big is the danger of this debt bubble bursting? Sputnik explores.

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