this post was submitted on 24 Oct 2025
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Economics

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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.

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[–] FistingEnthusiast@lemmynsfw.com 47 points 2 months ago (1 children)

Because conservatives are fuckwits who are bad with money

A few get rich by shitting on people, stealing the work and ideas of others, and somehow people think that it automatically makes them experts on matters of finance

The US is a fucking joke

[–] Cruel@programming.dev 1 points 2 months ago

Did you just imply that Trump is a fiscal conservative? Since 2015 he made it clear he wanted to spend a lot of money. For a little while he pretended to side with Musk who was attempting to NOT spend so much money, but he eventually ditched DOGE and kept spending.

[–] Archangel1313@lemmy.ca 34 points 2 months ago (1 children)

Lol! And to think, people voted for this moron because they thought he would be good for the economy. smh.

[–] Pat_Riot@lemmy.today 5 points 2 months ago (1 children)

The only reason people voted for Trump was to hurt queers and brown people.

[–] Archangel1313@lemmy.ca 1 points 2 months ago

Hispanic people voted for him because they thought he would fix the economy. It had nothing to do with racism or gay people.

[–] Kalon@lemmy.world 28 points 2 months ago (2 children)

I remember when Republicans pretended to care about debt.

[–] Doomsider@lemmy.world 22 points 2 months ago (1 children)

That is only when the Democratic Party is in charge.

[–] Cruel@programming.dev 2 points 2 months ago (1 children)

To be fair, nobody here would care about this if a Democratic was responsible.

[–] Doomsider@lemmy.world 1 points 2 months ago

I am no fan of the Democratic Party but they do allow dissent and differing opinions as well as criticism of the President. The Republicans not so much.

Poor Trumpsters has already added almost more than twelve years of Democratic Presidents and he and has had only 5 years so far. By the end of his presidency he will have spent the most, made the least, and bankrupted the majority of the Federal Government.

[–] Cruel@programming.dev 1 points 2 months ago* (last edited 2 months ago)

You must be 40+ years old then.

[–] someguy3@lemmy.world 27 points 2 months ago

GOP will start caring about the debt in ... 3.3 years.

[–] 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.

[–] rafoix@lemmy.zip 14 points 2 months ago (1 children)

Those deported immigrants must have grabbed bags of money on their way out. /s

[–] NoForwadSlashS@piefed.social 4 points 2 months ago* (last edited 2 months ago)

I wonder how big a bag you'd need to grab 2 million in cash. Every single deportee would have had to have grabbed one to accumulate $1trillion.

Edit: Its actually not that bad, could fit in a couple of hefty duffel bags.

[–] BigMacHole@sopuli.xyz 13 points 2 months ago (1 children)
[–] Cruel@programming.dev 1 points 2 months ago (1 children)

Lol, DOGE was the quickest abandoned federal organization ever. Trump used it to get votes of real conservatives and some libertarian types.

[–] LifeInMultipleChoice@lemmy.world 1 points 2 months ago

So we are going to stop helping millions of people across over a hundred countries, and spend more money somehow not doing it?

"Yes Sir, a lot of people would call it dumb to spend more and not help people, it even cuts jobs from Americans"

Yeah let's go with that, and uhhh, fire a lot more Americans while you are at it.

"Where?"

Everywhere you can find them, just fire people until things break, and we'll see if we can fix those things once they are broke.

"Sir that's going to cost more money, hurt more people, and cut more jobs"

Yes, that's why we are doing it, and uh tax everyone more and send the money directly to the Treasury so I can write myself checks from it,

"Who would vote for you... Holy shit they are voting for you"

[–] dhhyfddehhfyy4673@fedia.io 13 points 2 months ago

The US is completely fucked. Looking increasingly certain that collapse of the empire sometime soonish is unavoidable.

[–] Chivera@lemmy.world 8 points 2 months ago

It's ok guys 21 trillion in investments are coming, trust me bro.

[–] mycodesucks@lemmy.world 8 points 2 months ago

Don't worry! All that tariff money will cover it!

/s

[–] Deifyed@lemmy.ml 7 points 2 months ago

But how? Trump is such a prominent businessman/s

[–] myfunnyaccountname@lemmy.zip 6 points 2 months ago

Could imagine having to listen to Kamala’s laugh though. I mean seriously. It was so bad. Plus look at this great new ballroom. And the airplane from Qatar, totally for free. And Qatar gets a military base in the US. And all the bailouts for foreign countries. While Americans go broke. And trying to start a war…while crying about the model peace prize. Just so much winning going on here.

[–] shortwavesurfer@lemmy.zip 5 points 2 months ago (1 children)

I now no longer hold anything over an emergency stash of U.S. currency, because I no longer believe in the value of the U.S. currency. I do not want it. I use Monero.

[–] SnotFlickerman@lemmy.blahaj.zone 8 points 2 months ago

Had us in the first half, not gonna lie.

[–] ayyy@sh.itjust.works 4 points 2 months ago

Anyone got some favorite European index funds? I’m completely pulling out of the US economy to all extents possible.

[–] Johnmannesca@lemmy.world 3 points 2 months ago

We all knew hiring actors to feign competence was always gonna be expensive, but more expensive than the pandemic is stifling.