2024

United

Time

Trillion

<div class="watcher-guru">
 <p>The <a rel="noopener noreferrer nofollow" title="national debt" href="https://thebittimes.com/tag/national-debt.html">national debt</a> – which measures what the United States owes its creditors — hit $34 trillion as of Friday afternoon, according to new data published by the Treasury Department. It is the first time ever that US debt has surpassed that number.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">BREAKING: 🇺🇸 National debt surpasses $34 trillion for the first time ever.</p>— Watcher.Guru (@WatcherGuru) January 2, 2024
   </blockquote>
  </div>
 </figure>
 <p>The historic debt level comes as Congress races to finalize critical funding bills in order to prevent a government shutdown.&nbsp;The <a rel="noopener noreferrer nofollow" title="national debt" href="https://thebittimes.com/tag/national-debt.html">national debt</a> is expected to nearly double in size over the next three decades, according to the latest findings from the Congressional Budget Office. Furthermore, at the end of 2022, the <a rel="noopener noreferrer nofollow" title="national debt" href="https://thebittimes.com/tag/national-debt.html">national debt</a> grew to about 97% of gross domestic product.&nbsp;Under current law, that figure is expected to skyrocket to 181% at the end of 2053.</p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p>Servicing the <a rel="noopener noreferrer nofollow" title="national debt" href="https://thebittimes.com/tag/national-debt.html">national debt</a> crisis isn’t helped by the <a rel="noopener noreferrer nofollow" title="inflation" href="https://thebittimes.com/tag/inflation.html">inflation</a> battle that the US also continues to face. Multiple interest rate hikes in 2023 made living in the debt crisis more difficult for Americans. As interest rates rise, the&nbsp;federal government’s borrowing costs&nbsp;on its debt will also increase.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="591" src="https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp" alt="us economy flag wall street debt ceiling" class="wp-image-112833" srcset="https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 1024w, https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 300w, https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 768w, https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 380w, https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 550w, https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 800w, https://cdn.thebittimes.com/images/2024/01/03/a820e25503632a1e4931265fb065ffbb.webp 1040w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: ommcomnews.com
  </figcaption>
 </figure>
 <p><strong>Also Read: Does Progressive Take American Express?</strong></p>
 <p>Additionally, interest payments on the $34 trillion in <a rel="noopener noreferrer nofollow" title="national debt" href="https://thebittimes.com/tag/national-debt.html">national debt</a> are expected to triple from nearly $475 billion in fiscal year 2022 to $1.4 trillion in 2032. By 2053, the interest payments are projected to surge to $5.4 trillion.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>inflation</li>
  <li>national debt</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-national-debt-surpasses-34-trillion-for-first-time-ever-tbt75398.html">https://thebittimes.com/us-national-debt-surpasses-34-trillion-for-first-time-ever-tbt75398.html</a></p>

US National Debt Surpasses $34 Trillion for First Time Ever

TheBitTimes

Altri articoli pubblicati su 2 gen 2024

Bitcoin Surges to $45,800 as Market Anticipates SEC’s ETF Decision

Binance’s 2023 report highlights heavy investment in compliance and security

Vintage Mickey Mouse NFT Collection Captivates the Community

SOL Surges Over 10% As Solana Breaks Key Resistance Levels, Aiming New High

Bernstein Gives Dates for $80 Thousand and $150 Thousand in Bitcoin!

Don’t Overlook Bitcoin Ordinals, Says Udi Wertheimer

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!