International Business News: Concern about the rapidly rising US government debt is partly behind recent surges in gold prices and bitcoin, even as the Treasury market so far rema.
The U.S. budget deficit widened to $1.7 trillion in fiscal year 2023 and is on track to reach $2.6 trillion by 2034, according to the Congressional Budget Office. U.S. government debt held by the public, meanwhile, is on pace to reach a record 106% of gross domestic product (GDP) in 2028, up from 97% in fiscal year 2023. The unchecked growth of U.S. government debt is gaining more attention as interest rate payments also take a larger bite of the government's budget - in some months exceeding spending on national defense.
Worsening US Debt Outlook Seen More in Gold and Bitcoin Than in Bonds usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.