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US National Debt Hits Historic High, Surpasses USD 34 Trillion Mark for the First Time: Report

The US national debt has surged to a historic high, surpassing USD 34 trillion for the first time, according to the latest report from the US Treasury Department.

US National Debt Hits Historic High, Surpasses USD 34 Trillion Mark for the First Time: Report
US flag (Photo Credits: Pexels)

The US national debt has surged to a historic high, surpassing USD 34 trillion for the first time, according to the latest report from the US Treasury Department. The latest figure comes just three months after the debt initially crossed the USD 33 trillion mark. Reportedly, lawmakers are gearing up for fiscal battles over spending in the coming year, with government borrowing costs rising due to the Federal Reserve's efforts to increase interest rates.Β US Presidential Election 2024: Joe Biden at Risk of Losing Young Black and Hispanic Voters Over Not Halting Israel-Hamas War.

US National DebtΒ 

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(The above story first appeared on LatestLY on Jan 03, 2024 04:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).