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The U.S. national debt broke a new record after crossing the $36 trillion mark for the first time as the federal government's mounting budget deficits cause the debt to surge.
The national debt was up to $80,885 per person as of 2020. [153] The national debt equated to $59,143 per person U.S. population, or $159,759 per member of the U.S. working taxpayers, back in March 2016. [154] In 2008, $242 billion was spent on interest payments servicing the debt, out of a total tax revenue of $2.5 trillion, or 9.6%. Including ...
Lowering taxes is likely to increase deficits and debt. "Our government sold us a false bill of goods with the Iraq war and the 2008 financial crisis loading up our national debt that falls on our ...
America’s gross national debt hit an eye-watering $33 trillion for the first time in September — and in fact is currently closer to the $34 trillion mark.. In response, the U.S. is now ...
In 1993, for instance, the annual deficit amounted to 3.8% of GDP, and the debt, which seemed astronomically high at a “mere” $4.4 trillion, was Lilliputian by today’s standards. The trend ...
The US government’s debt has topped $34 trillion for the first time, just weeks ahead of deadlines for Congress to agree to new federal funding plans.
The federal government's gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America's balance sheet in the ...
At $33 trillion and counting — actually, it's presently above $33.75 trillion — America’s national debt is astonishingly high. But government deficits don’t exactly work like household ...