The U.S. budget deficit, as a percentage of GDP, is now higher than in any period except the recession in 2007 through 2009 and the lockdown in 2020.

The debt pyramid is a harbinger of economic problems, including higher inflation, lower quality of life and destabilization of the financial system, said Les Rubin, a veteran of the financial markets. He called the U.S. debt situation one of the "greatest Ponzi schemes" in the world.

The U.S. has the largest national debt in its history, and economists have long voiced concerns about it. Bank of America estimates the size of the federal debt has reached $34 trillion this year, with the government accumulating $1 trillion in debt every 100 days