US EditionUS hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic
The national debt rose by $1 trillion in just over two months, driven by deficits and rising interest costs during a government shutdown, the fastest growth outside the pandemic.
- The U.S. national debt surpassed $38 trillion, rising by $1 trillion in just over two months, the fastest accumulation outside the pandemic period.
- Interest payments on the national debt now total roughly $1 trillion per year, the fastest-growing category in the federal budget, crowding out important investments.
- Delays in fiscal decision-making due to events like the partial government shutdown magnify long-term debt costs, while ballooning debt exerts upward pressure on inflation and interest rates.
81 Articles
81 Articles
U.S. debt tops $38 trillion for first time, worsened by government shutdown
The U.S. gross national debt has surpassed $38 trillion for the first time, U.S. Treasury Department data shows. The country’s mounting debt comes as the government remains closed, disrupting the economy as hundreds of thousands of federal workers go unpaid. Government shutdowns can boost the national debt because they delay economic activity and postpone fiscal decisions, while pausing federal programs and starting them up again can also incre…
As national debt accelerates to $38 trillion, watchdog warns it's 'no way for a great nation like America to run its finances'
In just a little over two months, the national debt swelled by $1 trillion. This is twice as fast as the rate of growth since 2000, Michael Peterson says.
Associated Press News
US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic
The U.S. government's gross national debt has surpassed $38 trillion during the federal shutdown, marking a record high.
U.S. hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic
The U.S. government's gross national debt has surpassed $38 trillion during the federal shutdown, marking a record high. This rapid debt accumulation is the fastest outside of the COVID-19 pandemic, with the debt having reached $37 trillion in August. The…
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