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

submitted 1 month ago by MicroWave@lemmy.world to c/economics@lemmy.world

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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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[–] Kalon@lemmy.world 27 points 1 month ago (4 children)

I remember when Republicans pretended to care about debt.

[–] Doomsider@lemmy.world 23 points 1 month ago (2 children)

That is only when the Democratic Party is in charge.

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

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

[–] Doomsider@lemmy.world 1 points 1 month 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.

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