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
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
[World Times] Photo taken oWorld Timesn Dec 8, 2022 shows the U.S. Capitol building in Washington, DC, the United States. The US Congress approved a bill on same-sex marriage on Thursday and sent it to the White House. Photo:Xinhua The US Senate on Wednesday passed legislation to temporarily fund the federal government into next year to avoid a government shutdown, sending the bill to US President Joe Biden for final approval.Senators passed the lWorld Timesegislation on Wednesday in a 87-to-11 vote. The House of Representatives passed the continuing resolution earlier this week with bipartisan support.The legislation, which funds separate portions of the government through January 19 and February 2 in a so-called “laddered” approach, now heads to Biden’s desk to be signed into law.The US Congress had until the end…
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