US National Debt Surpasses $32 Trillion Mark.
TL;DR Summary
The US national debt has exceeded $32 trillion for the first time ever, two weeks after President Biden signed legislation to suspend the nation’s borrowing limit through the end of 2024. Despite $1.5 trillion in spending cuts over the next decade, America’s gross national debt is still projected to exceed $50 trillion by 2033. The Peterson Foundation recommends establishing a bipartisan fiscal commission to look at all parts of the budget for cuts.
Topics:business#borrowing-limit#economy#fiscal-commission#interest-payments#spending-cuts#us-national-debt
- US national debt exceeds $32 trillion for first time New York Post
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- National Debt Tops $32 Trillion for the First Time Yahoo Finance
- U.S. National Debt Tops $32 Trillion for First Time The New York Times
- Repaying the national debt would cost more than $90000 per person The Killeen Daily Herald
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