US Debt Hits $30 Trillion, Pandemic Borrowing Weighs Heavily
Update: 2025-12-05
Description
The U.S. governments debt has surpassed thirty trillion dollars, a significant increase since 2018, largely due to pandemic relief spending. This surge in borrowing has led to a larger portion of the federal deficit being allocated to interest payments, raising concerns about the nations financial health. Experts like Guneet Dhingra and Jason Williams highlight the long-standing issue of spending exceeding revenue, exacerbated by the pandemic and higher interest rates. The situation is dire, with interest expenses posing a significant burden on the nations finances. Looking ahead, Treasury officials suggest potential increases in borrowing, further adding to the already substantial national debt.
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