U.S. National Debt Surpasses $38 Trillion Amid Political Gridlock
The national debt of the United States has officially surpassed $38 trillion for the first time in history, triggered by a rapid accumulation of debt, particularly during a recent government shutdown. Analysts warn that this unprecedented level of debt indicates a potential financial crisis, as spending surges and political bickering continues in Washington. The pace of debt accumulation has raised alarms among economic experts, with concerns that the country may face credit downgrades and a deeper fiscal crisis. Observers emphasize the urgency for leaders to address these growing financial challenges in order to avoid further deterioration.
CBS News, AP News, Fortune, Fox Business, AOL.com, The Economic Times, EPIC for America, Eurasia Review, Committee for a Responsible Federal Budget, Joint Economic Committee (.gov)