"U.S. National Debt Hits Record $34 Trillion Amid Economic Concerns"
TL;DR Summary
The U.S. national debt has surpassed $34 trillion, marking a rapid increase in federal debt as the country faces high government spending and reduced tax receipts. While some economists warn of the risks to fiscal health, others argue the economy's growth can handle the borrowing. The milestone arrives amid debates over spending levels and the potential for government shutdowns if spending laws are not extended. The debt situation may influence discussions on the 2017 GOP tax cut provisions expiring in 2025, with political blame being exchanged between Democrats and Republicans over the causes of the deficit.
Topics:nation#debt-ceiling#economy#federal-reserve#fiscal-policy#government-spending#us-national-debt
- U.S. debt rises above $34 trillion for first time The Washington Post
- Total U.S. public debt tops $34 trillion as Congress heads into funding fight Reuters
- US national debt nears $34 trillion; majority of voters say economy is in bad shape Fox Business
- US national debt tops $34T for first time in history Fox Business
- The Debt Matters Again The New York Times
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