The U.S. federal debt has reached a new record high of $34.832 trillion, following a one-day increase of $109 billion on June 28. The Congressional Budget Office projects that U.S. debt could surpass $56 trillion in the next decade. The Treasury expects to borrow an additional $800 billion from July through September, potentially adding over $1 trillion to the debt by the end of the year. Under President Biden's tenure, the debt has increased by $7.9 trillion in less than four years, with a projected net increase of more than $9 trillion by the end of his term, setting a new record. The debt had previously risen by $6.5 trillion during President Trump's term.
US debt increases by $109B in 1 day. https://t.co/s80te6cdb6
With Biden 2.0 no longer an option, the Treasury has also stopped pretending and US government jumped by $109 billion in one day - the biggest one day increase since Oct '23 - to a record $34.831 trillion. And now the debt starts to really move again https://t.co/0E7cx10cUS https://t.co/ruprDPaYDq
With Biden 2.0 no longer an option, the Treasury has also stopped pretending and US government jumped by $109 billion in one day - the biggest one day increase since Oct '23 - to a record $34.831 trillion. And now it start to really move https://t.co/3pZ5PM1iXn https://t.co/ruprDPaqNS
Federal debt jumped $109 billion on Friday (6/28) to new record high: $34.832 trillion - remember that Treasury expects to borrow another $800 billion from Jul through Sep, so we're going to add over $1 trillion more to the debt before the end of this calendar year: https://t.co/mwsBCThSaC
"The debt actually rose $6.5 trillion during Trump’s entire term—and is up $7.9 trillion in less than four years of Biden’s tenure. All told, Biden will likely oversee a net increase in the debt of more than $9 trillion in a single term—a new record..." (Article linked in reply) https://t.co/0xQvrzPSbY
Projected U.S. debt could surpass $56 trillion in the next decade, warns Congressional Budget Office. Taxes and debt limit battles loom. #USdebt #CBO #economy