Nov 14, 2019

Global debt expected to exceed $255 trillion by end of 2019

Global debt surged by $7.5 trillion in the first half of the year, hitting a new record of more than $250 trillion, data released Thursday from the Institute of International Finance shows.

Why it matters: The world's debt has now risen to 320% of what it produces, the highest level ever recorded — and IIF economists say they see "no sign of a slowdown." They expect the global debt load to exceed $255 trillion by the end of the year, with the U.S. and China leading the way.

Go deeper: One nation, drowning in debt

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Capital markets are eyeing the world's soaring debt

Illustration: Aïda Amer/Axios

The world's debt is rising to unprecedented levels. While politicians and the general public have seemingly lost interest, capital markets are beginning to show signs of strain, financial experts say.

Driving the news: Global debt surged by $7.5 trillion in the first half of the year, hitting a new record of more than $250 trillion, according to data released Thursday from the Institute of International Finance.

Go deeperArrowNov 15, 2019

The states having the most trouble with credit card debt

Reproduced from CreditCards.com; Table: Axios Visuals

Americans living in Southern states will have the hardest time getting out of credit card debt, according to a CreditCards.com report that compares credit card debts and household incomes.

The state of play: Nine of the 10 highest credit card debt burdens are in the South, though New Mexico holds the top spot.

Go deeperArrowDec 4, 2019

U.S. budget gap hits $134.5 billion, up 34% in a year

Photo: Mark Wilson/Getty Images

The U.S. budget gap grew to $134.5 billion in October, up roughly $34% from the same time last year, Bloomberg reports.

The big picture: The federal government ended the 2019 fiscal year with the biggest deficit — $984.4 billion — we've seen in seven years. The widening gap comes as a result of continued spending increases and dwindling receipts. The deficit marks the largest October shortfall since 2015. Income also dropped by 2.8% last month from a year earlier.

Go deeperArrowNov 14, 2019