US federal deficits and defense spending, FY 1975-2035E, % of GDP | McKinsey Global | Report

**McKinsey: The growing US national debt threatens investor confidence** > The federal debt today stands at $38 trillion, or 120 percent of GDP. This is higher than the 119 percent recorded in 1946 in the aftermath of World War II and barely less than the all-time high set in April 2020 at the height of the COVID-19 pandemic. The United States has one of the highest national debt levels relative to GDP of major…