US government debt is on track to surpass $50 trillion by 2033. That means $5.2 billion is piling up every day.

• The US government's public outstanding debt is on track to surpass $50 trillion by 2033.
• The increase comes out to roughly $5.2 billion every day or $218 million every hour, Bank of America estimated.
• "Central banks may simply bail out governments in coming years via QE," BofA said.

The US government's debt is on track to surpass $50 trillion by 2033, Bank of America said in a Tuesday note, citing data from the Congressional Budget Office.

US public debt outstanding currently sits at $33.6 trillion and is expected to surge by $20 trillion to $54 trillion within the next decade amid "fiscal excess in the 2020s," Bank of America investment strategist Michael Hartnett said.