US public debt exceeds thirty-seven trillion dollars
(MENAFN) The total public debt of the United States has exceeded 37 trillion dollars as of Monday, according to reports citing data from the U.S. Department of the Treasury.
Debt held by the public stands at 29.64 trillion dollars, while intragovernmental holdings account for 7.36 trillion dollars. At the start of fiscal year 2024-2025 on October 1, 2024, the combined public debt was recorded at 35.46 trillion dollars.
The rapid increase in U.S. debt over recent years has raised significant concerns internationally.
“The gross national debt hitting 37 trillion U.S. dollars is yet another stunning reminder of the terrible state of federal finances. Spending and revenue are woefully out of balance -- to the tune of nearly 2 trillion U.S. dollars annually and rising,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
