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Saturday, September 23, 2023

US national debt exceeds $33 trillion for first time in history


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Washington: The US national debt exceeded $33 trillion for the first time in the country’s history, according to US Treasury Department data.

The US national debt stands at approximately $33.04 trillion, the Treasury Department said.

The milestone comes as Congress works to fund the government before the end of the month, lest they risk a government shutdown.

A number of US House Republicans have expressed opposition to a short-term funding bill proposed by the chamber leadership, citing concerns about excessive government spending.

On Monday, US Congressman Dan Bishop said the United States has added $1 trillion to the existing national debt since June to exceed $33 billion, adding that the per family share is $260,000.

Bishop said the Congress’ answer to the record level of debt is to pass another continuing resolution to continue to fund the government. The congressman referred to Congress and the government as “the swamp” – a popular reference for the bureaucracy in Washington.

Earlier on Monday, US Treasury Secretary Janet Yellen said that she is comfortable with the economic path of the United States despite the rising inflation and interest rates.


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