Record-breaking US National Debt Surpasses $33 Trillion
The US national debt has surpassed $33 trillion for the first time in history, raising concerns about government spending. The debt level has nearly doubled in size over the past three decades and is projected to reach 181% of GDP by 2053. Interest payments on the debt are expected to triple by 2032, surpassing spending on Social Security, Medicare, Medicaid, and other programs. The spike in interest rates has made servicing the debt more expensive, highlighting the urgency to address the growing debt burden.