"U.S. Debt Surpasses $34 Trillion Amid Economic Concerns and Congressional Budget Battles"

The U.S. national debt has reached a record $34 trillion, surpassing earlier projections due to heavy borrowing during the pandemic to support the economy. This increase has raised concerns about the long-term economic impact and the sustainability of government spending, especially with regard to major programs like Social Security and Medicare. The debt's growth could lead to higher inflation and interest rates, affecting the cost of repaying the debt. As Congress prepares for budget negotiations, Republicans and Democrats differ on how to address the debt, with the former advocating for spending cuts and the latter for tax increases on the wealthy and corporations. The trajectory of the national debt is a key issue for the upcoming presidential election, with both parties positioning their strategies for voter consideration.