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US debt explodes by $865,000,000,000 in a month, more than the combined GDP of Finland, Hong Kong and Greece

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The US national debt increased by almost a trillion dollars in just one month.

The latest figures from FiscalData show that, as of June 2 of this year, the country’s total public debt stock was US$31.467 trillion.

32,320

A month later, on June 30, that number rose to $32.332 trillion, a staggering increase of $865 billion.

The strong growth in US debt over a 28-day period is greater than the combined gross domestic product (GDP) of the world’s three largest economies.

World Bank data shows that Hong Kong’s GDP fluctuated at US$359.83 billion in 2022. In the same year, Finland recorded a GDP of US$280.82 billion, while Greece’s economy produced US$219.06 billion. of US dollars.

In total, the three economies produced $859.71 billion in wealth last year, less than the debt accumulated by the United States in four weeks.

Last month, the Congressional Budget Office (CBO) released a report projecting that US debt will dramatically outpace GDP growth and be worth nearly three times the country’s GDP within three decades.

The CBO predicted that by 2053, US GDP will rise to $79.5 trillion, with debt soaring to $143.895 trillion.

According to the federal agency, the hemorrhaging of US debt is likely to have detrimental effects on the US economy.

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