Alex Ossola

Does that mean that we're going to be seeing even more pressure on consumer spending moving forward?

One of the other things we saw in the numbers today was that business spending picked up a lot during the quarter.

It rose more than 10 percent.

What kind of businesses are doing that spending and what are they spending on?

Are there risks to the economy to have so much spending concentrated in one area?

That was Greg Ducco, Chief Economist at EY Parthenon.

Thanks, Greg.

With the latest GDP numbers comes a sort of scary-sounding milestone.

The U.S.

national debt now exceeds 100% of gross domestic product.

The government is spending $1.33 for every dollar it collects in revenue.

It's not the first time the debt's topped GDP, and that number might bounce around a bit.

There also isn't some special level where debt goes from problematic to catastrophic.

But it is a symbol of the fiscal stresses on the U.S.

that have been building for decades.

Investing columnist Spencer Jacobs says the debt is already weighing on the government's budget.

But Spencer says politicians keep spending.

In markets, the Dow led today's gains, closing up 1.6 percent.

And the S&P and Nasdaq closed out one of their best months in years.

The Nasdaq ended April with a gain of more than 15 percent, the biggest since early 2020.