US government debt hits record
Economy
The US national debt has topped $33 trillion for the first time, the first time in history it has topped $33 trillion, according to the Treasury Department. In three months (from June 16), the total US national debt has increased by $1 trillion. A week earlier, a U.S. Treasury report showed the budget deficit for the 11 months of the fiscal year was $1.5 trillion, up 61 percent from the same period in 2022.
The US national debt exceeded $33 trillion for the first time. This is evidenced by data published by the country's Ministry of Finance.
The “total public debt” column of the database on the Treasury website shows $33.04 trillion as of September 18. This is a record level of American public debt. On June 16, it exceeded $32 trillion.
The US exceeded the national debt limit set in January at $31.4 trillion. After this, the country's Ministry of Finance was forced to use emergency measures to continue financial operations. In recent months, the US administration has called on Congress to increase the debt limit. Republicans who control the House of Representatives agreed to increase the debt ceiling, but subject to significant budget cuts.
US President Joe Biden signed a bill to increase the national debt limit, approved by Congress on June 3. The limit will now be reached on January 2, 2025. According to the head of state, the initiative, which prevented the economic crisis and collapse of the United States, was approved by the Senate on June 1. The House passed it on May 31st. The agreement provides $886 billion for defense, $121 billion for veterans' health care and $637 billion for other non-defense programs in fiscal year 2024 (which begins Oct. 1).
The “total public debt” column of the database on the Treasury website shows $33.04 trillion as of September 18. This is a record level of American public debt. On June 16, it exceeded $32 trillion.
The US exceeded the national debt limit set in January at $31.4 trillion. After this, the country's Ministry of Finance was forced to use emergency measures to continue financial operations. In recent months, the US administration has called on Congress to increase the debt limit. Republicans who control the House of Representatives agreed to increase the debt ceiling, but subject to significant budget cuts.
US President Joe Biden signed a bill to increase the national debt limit, approved by Congress on June 3. The limit will now be reached on January 2, 2025. According to the head of state, the initiative, which prevented the economic crisis and collapse of the United States, was approved by the Senate on June 1. The House passed it on May 31st. The agreement provides $886 billion for defense, $121 billion for veterans' health care and $637 billion for other non-defense programs in fiscal year 2024 (which begins Oct. 1).
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