The national debt of the USA has exceeded 32 trillion dollars for the first time in history

The US Treasury announced that for the first time in history, the US national debt exceeded 32 trillion dollars. The New York Times reported about it.

"The total unpaid state debt is 32 trillion 39 billion 244 million dollars," the ministry said.

Previously, this indicator was at the level of 31.95 trillion dollars. In early June, US President Joe Biden signed a law temporarily increasing the national debt limit until January 1, 2025.

The $32 trillion figure came nine years ahead of forecasts during the pandemic, reflecting trillions of dollars in emergency spending to deal with the impact of Covid and sluggish economic growth.

According to the Congressional Budget Office, the recent agreement to suspend the bilateral debt ceiling for two years will reduce federal spending by $1.5 trillion over a decade.

But by the end of the decade, even with spending cuts, the debt could exceed $50 trillion.

Source: daryo.uz