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The U.S. began adding $1 trillion worth of debt about every three months beginning last June, a Bank of America investment strategist Michael Hartnett first pointed out in an investment note published last week. The national debt is currently $34.48 trillion and rising. It surpassed $34 trillion for the first time in U.S. history on […]
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The United States is on a pace to add nearly $19 trillion to its national debt over the next decade as the mounting costs of an aging population and higher interest expenses continue to weigh on the nation’s fiscal outlook, the nonpartisan Congressional Budget Office said on Wednesday. But the report did offer a sliver […]
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023. Nathan Howard | Bloomberg | Getty Images The U.S. government ran up another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department reported Thursday. For the period from October 2023 through December 2023, the budget […]
Saul Loeb/AFP/Getty Images The US Treasury Department said national debt surpassed $34 trillion on December 29. London CNN — The US government’s debt has topped $34 trillion for the first time, just weeks ahead of deadlines for Congress to agree to new federal funding plans.
Comment on this storyCommentAdd to your saved storiesSave The U.S. national debt has eclipsed $34 trillion for the first time, the Treasury Department said Tuesday, as persistently large annual deficits continue to add to the federal tab.
America’s federal budget deficit effectively doubled in the 2023 fiscal year as slumping tax receipts, rising interest rates and persistent demand for expiring pandemic relief benefits strained the nation’s finances. The latest Treasury Department figures showed a budget deficit of $1.7 trillion in 2023, up from $1.37 trillion in 2022. Those numbers make the deficit […]
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America’s gross national debt exceeded $33 trillion for the first time on Monday, providing a stark reminder of the country’s shaky fiscal trajectory at a moment when Washington faces the prospect of a government shutdown this month amid another fight over federal spending. The Treasury Department noted the milestone in its daily report detailing the […]