U.S. debt tops $38 trillion for the first time, worsened by government shutdown

U.S. debt tops $38 trillion for the first time, worsened by government shutdown

The U.S. gross national debt has surpassed $38 trillion for the first time, U.S. Treasury Department data shows. The country’s mounting debt comes as the government remains closed, disrupting the economy as hundreds of thousands of federal workers go unpaid.  Government shutdowns can boost the national debt because they delay economic activity and postpone fiscal…

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US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic

WASHINGTON (AP) — In the midst of a federal government shutdown, the U.S. government’s gross national debt surpassed $38 trillion Wednesday, a record number that highlights the accelerating accumulation of debt on America’s balance sheet. It’s also the fastest accumulation of a trillion dollars in debt outside of the COVID-19 pandemic — the U.S. hit…

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