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Bank of America's investment strategist believes the $1 trillion-per-100-day growth rate will continue to be maintained in the $34 trillion to $35 trillion debt range.
The US debt has been growing faster in recent months, with the US debt increasing by about $1 trillion every 100 days on average.
According to the US Treasury Department, the country's public debt exceeded the threshold of 34,000 billion USD on January 4.
Previously, US public debt reached $33 trillion on September 15, 2023, after rising past $32 trillion on June 15, 2023.
Before that, it took about eight months for the US public debt to increase by $1 trillion from $31 trillion.
As of February 28, the amount of debt the US government borrowed to cover operating costs stood at $34.4 trillion.
Bank of America investment strategist Michael Hartnett believes the $1 trillion-per-100-day growth rate will continue to be maintained in the $34 trillion to $35 trillion debt range.
Last November, Moody's Investors Service downgraded the US government's debt rating from stable to negative, citing growing risks to the country's financial health.
Moody's Investors Service said that in the context of rising interest rates and the US not having effective fiscal measures to reduce government spending or increase revenue, the agency predicted that the US fiscal deficit would remain very large, thereby significantly reducing the country's ability to "bear" debt.
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