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The US national debt topped a psychologically important milestone of $35 trillion in recent days and has risen by $1 trillion since January — mounting by nearly $5 billion every day so far in 2025.
Allowing the Bush tax cuts to expire at all income levels would have a significant deficit reduction effect. In August 2010, CBO estimated that extending the tax cuts for the 2011–2020 time period would add $3.3 trillion to the national debt: $2.7 trillion in foregone tax revenue plus another $0.7 trillion for interest and debt service costs ...
As of October 2018, foreigners owned $6.2 trillion of U.S. debt, or approximately 39% of the debt held by the public of $16.1 trillion and 28% of the total debt of $21.8 trillion. [43] In December 2020, foreigners held 33% ($7 trillion out of $21.6 trillion) of publicly held US debt; of this $7 trillion, $4.1 trillion (59.2%) belonged to ...
The Congressional Budget Office (CBO) projected two weeks prior to Obama taking office in January 2009 that the deficit in FY2009 would be $1.2 trillion and that the debt increase over the following decade would be $3.1 trillion assuming the expiration of the Bush tax cuts as scheduled in 2010, or around $6.0 trillion if the Bush tax cuts were ...
Outstanding government debt stood at $34.9 trillion ($34,940,154,000,000 to be somewhat more precise) as of Tuesday, according to the latest data from the Treasury Department. That's a debt load ...
The national debt hit a record $35 trillion this year. Our national debt has been growing almost continuously for at least 70 years under both parties. Despite their words, to date, politicians ...
On January 19, 2023, the United States hit its debt ceiling of $31.4 trillion. [62] At this time, Republicans had taken control of the House during the 2022 midterm elections . Although Republicans were a minority in the Senate, they threatened for the first time in American history to use the filibuster to stop the debt ceiling increase. [ 36 ]
The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump.
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