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US national debt tops $40 trillion: These charts offer more context
Treasury data show the debt equals about $116,800 per American as interest costs rise and federal borrowing continues across administrations.
- On Tuesday, the United States national debt surpassed the $40 trillion benchmark, according to Treasury Department data, marking nearly 600% growth since the turn of the century.
- Federal spending consistently exceeds revenue; during President Joe Biden's four years in office, debt grew by roughly $8.4 trillion, while President Donald Trump's terms saw an increase of roughly $11.6 trillion.
- Divided evenly across the population, the national debt is at about $116,800 per American, forcing more money toward interest payments and away from Social Security and Medicare.
- Sen. Rick Scott, R-Fla., warned the milestone could devalue the dollar and reduce purchasing power, while Sen. Rand Paul, R-Ky., promoted his "penny plan" to balance the budget in less than 10 years.
- High interest costs complicate the government's ability to respond to unexpected events like recessions, while debt-driven pressure on interest rates makes mortgages and business loans more expensive for Americans.
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Debt, Diesel and Trump’s Slump: Five Charts Defining the Week
Every Friday, Reuters Open Interest distills the financial week into five key charts, highlighting the major market trends, surprises and developments that shaped investor sentiment. This week, the focus fell on a historic U.S. debt milestone, an extraordinary surge in diesel refining margins, rising bond market anxiety, Donald Trump’s weakening approval ratings and the growing […] The post Debt, Diesel and Trump’s Slump: Five Charts Defining th…
·Plovdiv, Bulgaria
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With defense spending, crises, and massive budget deficits, the total US public debt has surpassed the $40 trillion mark, increasing sevenfold in a quarter of a century, reaching this level for the first time in history.
·Ankara, Türkiye
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Total News Sources33
Leaning Left0Leaning Right3Center28Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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