OECD warns of record surge in combined debt of its 38 member nations

The Organisation for Economic Co-operation and Development expects the aggregate public debt of its 38 member economies to approach a record peak this year, a trend largely fueled by a steep climb in U.S. borrowing. Since 2007, the collective debt of OECD countries has almost tripled, and the United States alone has seen its debt rise dramatically, with daily increases reported in the billions. Analysts point out that despite the large nominal sums, the United States' debt-to-GDP ratio is less severe than Japan's, which tops the list with a ratio exceeding 200 percent.

Other major economies such as France, Germany and China also face rising debt levels, though Germany's share of GDP remains comparatively modest. The widening debt gap raises concerns about higher interest costs crowding out other government spending, while the dollar's status as a global reserve currency and confidence in U.S. Treasury securities continue to underpin the market.