The U.S. national debt has breached the $33 trillion mark for the first time amid concerns that another fight over federal spending may trigger the first government shutdown since 2019.
The United States gross national debt has surpassed $33 trillion for the first time, highlighting its uncertain fiscal course as Washington faces a possible government shutdown – its first since 2019 – amid a fight over federal spending.
According to the U.S. Treasury Department, as of September 18, 2023 (just 12 days shy of the end of the country’s fiscal year), the national debt has risen to $33,053,950,837,720 or $33.05 trillion.
Debate over the debt is growing louder, with Republicans and Democrats in the House and the Senate divided on a path to avoid a potential government shutdown.
Even accounting for newly passed spending cuts, the U.S. national debt is on track to top $50 trillion by the decade’s end, impacted by mounting interest and the cost of the nation’s social programs.
Republished with permission from TIPP Insights