US Economy: USA's public debt grows to war level

In early December the ratio of public debt of the United States to GDP has reached 99.5%, which is the highest number since World War II. After placing another portion of the bonds at $160 billion, the U.S. will exceed this significant number. Rating agencies are willing to revise the U.S. credit scores.

There is approximately $70 billion remaining until the critical point at 100% of GDP is reached, BFM.ru reports referring to the analysts of "Grandis Capital." The total amount of the U.S. debt already exceeds $15 trillion.

While the U.S. continues to maintain high credit ratings, a constant buildup of debt will inevitably lead to the need to review the status of this highest quality borrower.

"This fact is another reason to think, another argument in favor of reducing government spending of the U.S., increasing revenues, reducing the budget deficit of the states. A high level of debt can serve as an excuse to reduce the credit rating, which may complicate future debt service, which is unacceptable," says Alexei Kozlov, a leading analyst of Research and Risk Management of UFS Investment Company.

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