US national debt hits record high of over $40.5 trillion
The US national debt has surpassed a record 40.5 $ trillion, according to US Treasury Department data analyzed by TASS.
According to figures published by the department, US sovereign debt stood at 40.52 $ trillion as of October 26, an all-time high. The debt exceeded 38 $ trillion in October last year and crossed the 40 $ trillion mark in August this year, having increased by 20 $ trillion in less than a decade.
According to estimates by the Peterson Institute for International Economics, the country’s debt could reach 50 $ trillion in six years unless government spending or taxation is reformed.
source: tass.com
According to figures published by the department, US sovereign debt stood at 40.52 $ trillion as of October 26, an all-time high. The debt exceeded 38 $ trillion in October last year and crossed the 40 $ trillion mark in August this year, having increased by 20 $ trillion in less than a decade.
According to estimates by the Peterson Institute for International Economics, the country’s debt could reach 50 $ trillion in six years unless government spending or taxation is reformed.
source: tass.com
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