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U.S. National Debt Reaches Record $37 Trillion
The United States’ gross national debt has surpassed $37 trillion, marking an all-time high and raising concerns about the speed of borrowing and its economic consequences.
The Treasury Department’s daily financial report released Tuesday recorded the total at $37,004,818,000,000. This milestone arrived years sooner than expected, with the Congressional Budget Office’s (CBO) pre-pandemic estimates projecting it wouldn’t occur until after fiscal year 2030.
The rapid rise reflects massive borrowing over the past six years. Federal spending surged in response to the Covid-19 pandemic, with…
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