Global total govt debt: $100tr (IMF 2024)
US govt debt $36tr & annual interest almost $1tr
US annual govt spending $6.3tr ($1tr on military)
(WSWS Jan. 2025)
About 1/3 is foreign owned (WSWS Mar. 2025)
Before the global financial crisis in 2008, the Fed held around $900 billion worth of financial assets on its books. That rose rapidly to more than $4 trillion as a result of quantitative easing and then rose again to more than $8 trillion in 2020 and is now on course to reach at least $9 trillion by the end of 2021.
(Nick Beams, WSWS, June 2021)
UK Government
Covid pandemic response – £376bn (source: Elgot, Walker and Lawson, 2022)
Energy crisis – forecast £187bn