US National Debt Hits Record $34 Trillion
January 2, 2024 3:41PM PST
Credit: MGN
WASHINGTON (AP) — The U.S. Treasury has announced that the nation’s gross national debt has surpassed $34 trillion.
The record high comes after Republican lawmakers and the White House agreed to temporarily lift the nation’s $31.4 trillion debt limit last year after the government ran up against its legal borrowing capacity and needed to implement “extraordinary measures” to avoid a default.
That agreement lasts until January 2025. Congress is gearing up for another funding fight.
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