Hacker NewsUS national debt reaches a record $37T, the Treasury Department reports
https://apnews.com/article/treasury-debt-spending-trump-obbb-6f807c4aae78dcc96f29ff07a3c926f4
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https://apnews.com/article/treasury-debt-spending-trump-obbb-6f807c4aae78dcc96f29ff07a3c926f4
#ycombinator #Peter_Peterson #Donald_Trump #Joe_Biden #National_debt #General_news #Washington_news #Taxes #Michael_Peterson #Wendy_Edelberg #Business #Financial_performance #Maya_MacGuineas #United_States_Congressional_Budget_Office #U_S_Republican_Party #Politics #United_States_government #Legislation #Coronavirus #U_S_news #U_S_Department_of_the_Treasury #Washington_News #U_S_News
US national debt reaches $37 trillion
The U.S. government’s gross national debt has surpassed $37 trillion, setting a new record. This highlights the rapid acceleration of debt on America’s balance sheet and the increasing cost pressures on taxpayers. The Treasury Department reported this update on Tuesday. The national debt reached this level years sooner than pre-pandemic projections due to heavy borrowing during the COVID-19 pandemic. Experts warn that the growing debt could lead to reduced living standards and increased interest rates. The Joint Economic Committee estimates another trillion dollars could be added in about 173 days.
