US debt has been increasing rapidly in the past few months, with over $1 trillion being added every 100 days, according to a CNBC news report.
The national debt slightly surpassed the $34 trillion mark before 4 January, but it has remained persistent after the date.
Debt Stands At $34.4 Trillion
As of Wednesday, the total debt the US government is entitled to pay currently stands at around $34.4 trillion.
The US Department of the Treasury stats show that the last $1 trillion was added in the last 100 days.
The official stats suggest it took 8 months to reach the $1 trillion mark before September.
100-Day Pattern Will Remain Intact
Bank of America investment strategist Michael Hartnett speculates that the 100-day pattern will continue to reach the $35 trillion mark.
The accelerated pace raises concerns about fiscal strength, prompting Moody’s to lower its outlook on the US government’s ratings to negative.
