US hits $38 trillion in debt
In the midst of a federal government #shutdown, the #US govt’s gross national #debt surpassed $38 trillion Wednesday, a record number that highlights the accelerating accumulation of debt on America’s balance sheet.
It’s also the fastest accumulation of a trillion dollars in debt outside of the COVID-19 pandemic—the US hit $37 trillion in gross national debt in August this year.
#economy #inflation #recession #Trump #trumpcession #Congress
https://apnews.com/article/trump-treasury-debt-ceiling-bessent-09575f13ca95c2f1beb38234b2cbe85b