US national debt reaches a record $37 trillion, the Treasury Department reports

[In It to Win It]

WASHINGTON (AP) — The U.S. government’s gross national debt has surpassed $37 trillion, a record number that highlights the accelerating debt on America’s balance sheet and increased cost pressures on taxpayers.

The $37 trillion update is found in the latest Treasury Department report issued Tuesday which logs the nation's daily finances.

The national debt eclipsed $37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office’s January 2020 projections had gross federal debt eclipsing $37 trillion after fiscal year 2030. But the debt grew faster than expected because of a multi-year COVID-19 pandemic starting in 2020 that shut down much of the U.S. economy, where the federal government borrowed heavily under then-President Donald Trump and former President Joe Biden to stabilize the national economy and support a recovery.

And now, more government spending has been approved after Donald Trump signed into law Republicans' tax cut and spending legislation earlier this year. The law set to add $4.1 trillion to the national debt over the next decade, according to Congressional Budget Office estimates.

https://finance.yahoo.com/news/us-national-debt-reaches-record-202913237.html

[Chasstev365]

1. Sombody is going to lose their job tomorrow!

[EYESORE 9001]

2. I know

I’ve been the messenger on occasion, albeit with less severe consequences. Here’s hoping that whopping figure somehow registers with enough people to matter, but I’m dubious.

[BootinUp]

3. Its working!