Every 100 days, the U.S. national debt increases by approximately $1 trillion.
- Nearly $34.4 billion is the current national debt, as of Wednesday.
- In approximately 100 days, there have been two $1 trillion jumps since June.
Recently, the U.S.'s debt load has been growing at a faster rate, with an increase of approximately $1 trillion every 100 days.
On Jan. 4, the nation's debt permanently surpassed $34 trillion, after briefly reaching this mark on Dec. 29, according to data from the U.S. Department of the Treasury. This accelerated pace saw the debt reach $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023. Prior to this, the $1 trillion increase from $31 trillion took approximately eight months.
The federal government's debt, which covers operating expenses, is currently at nearly $34.4 billion. Bank of America investment strategist Michael Hartnett predicts that the 100-day pattern will continue, with the debt moving from $34 trillion to $35 trillion.
"It's no surprise that 'debt debasement' trades are reaching new all-time highs, with gold at $2077/oz and bitcoin at $67734," he wrote in a note on Thursday.
Spot gold is currently trading at around $2,084 an ounce, while it recently hit a high of $61,443. In February, the cryptocurrency had its best month since 2020, briefly trading above $64,000 on Wednesday before dropping. According to Hartnett, inflows into crypto funds are on track for a record year, with an annualized inflow of $44.7 billion so far this year.
In November, Moody's Investors Service changed its outlook on the U.S. government's fiscal strength from stable to negative, citing rising risks.
"The agency stated that if higher interest rates are implemented without fiscal policy measures to decrease government spending or increase revenues, Moody's anticipates that the US' fiscal deficits will remain large, negatively impacting debt affordability."
Markets
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