US debt to surpass 120% of GDP by 2027: Fitch

International ratings agency Fitch Ratings projects the US state debt to top 120% of the country’s GDP by 2027.

"We expect a general government (GG) deficit of 7.9% of GDP this year and next, pushing already high GG debt above 120% by next year in our baseline," the report says.

At this point, the US state debt burden exceeds $39.1 trillion, which is over $114,000 per citizen of the country.

MNA