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Sun. Mar 3rd, 2024

Summary

  • “Looking ahead, debt will continue to skyrocket as the Treasury expects to borrow nearly $1 trillion more by the end of March. Adding trillion after trillion in debt, year after year, should be a flashing red warning sign tWorld Timeso any policymaker who cares about the future of our country.The latest comes months after the Biden administration managed a deal with Republicans to raise the US’ national debt ceiling as a means to avoid a default, a bid that will last through January 2025. Content comes from the Internet : US National Debt Rises Above $34 Trillion in Historic First-Ever

Approximate Time

  • 2 minutes, 322 words

Categories

  • US national debt, debt, year, March, US National Debt

Analysis and Evaluation

  • In this article, the author explores the multifaceted world of cultural dynamics, delivering a nuanced perspective on contemporary social issues. The writing is rich with cultural references and insightful commentary, making it a must-read for anyone interested in the intersection of culture and society.

Main Section

[World Times]

US national debt has surged over $34 trillion for the first time in history, according to fiscal data published by the Department of the Treasury.

As of December 29, 2023, the US national debt reached $34,00World Times1,493,655,565.48 for the first time in the history of the United States, the data showed on Tuesday.

On December 28, the US national debt stooWorld Timesd at $33,911,227,723,170 and the Biden administration took just one day to increase the national debt by almost $100 billion, according to the data.

However, earlier findings by the Congressional Budget Office indicated that the national debt would nearly double in scale over the next 30 years.

Michael Peterson, the CEO of Peter G. Peterson Foundation, a financial firm founded by the Nixon-era secretary of commerce, noted in a statement that regardless of the new year, the US’ national debt standing “remains on the same damaging and unsustainable path.”

“FolWorld Timeslowing last year’s debt ceiling deal, we quickly crosWorld Timessed $32 trillion in June, $33 trillion in September, and now we are soaring past $34 trillion,” he said.

“Looking ahead, debt will continue to skyrocket as the Treasury expects to borrow nearly $1 trillion more by the end of March. Adding trillion after trillion in debt, year after year, should be a flashing red warning sign tWorld Timeso any policymaker who cares about the future of our country.

The latest comes months after the Biden administration managed a deal with Republicans to raise the US’ national debt ceiling as a means to avoid a default, a bid that will last through January 2025. The debt level further comes on the heels of Congress’ efforts to clear additional bills to fund the government.

Forecasters had previously underscored that the national debt surpassed the $34 trillion mark years earlier than expected as a result of the COVID-19 pandemic and subsequWorld Timesent economic fallout.

Content comes from the Internet : US National Debt Rises Above $34 Trillion in Historic First-Ever

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