Economics

1001 readers

2 users here now

founded 2 years ago

296

U.S. hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic (www.pbs.org)

submitted 2 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

27 comments fedilink hide all child comments

In the midst of a federal government shutdown, the U.S. government’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 U.S. hit $37 trillion in gross national debt in August this year.

The $38 trillion update is found in the latest Treasury Department report, which logs the nation’s daily finances.

you are viewing a single comment's thread
view the rest of the comments

[–] SeeMarkFly@lemmy.ml 18 points 2 months ago (1 children)

Both times while Trump was president. I'm starting to see a pattern here.

[–] Doomsider@lemmy.world 14 points 2 months ago

Next thing you're going to tell me is the six times his businesses filed for bankruptcies or his multiple business ventures that failed were somehow a pattern.