The US's national debt has reached an all-time high of US$36 trillion, according to the latest report from the Committee for a Responsible Federal Budget, an independent research organization. This "milestone" was achieved just over three months after the debt surpassed US$35 trillion at the end of July 2024.
Data from the US Department of the Treasury shows that the national debt stood at US$34 trillion in early January 2024 before climbing to US$35 trillion by late July—an increase that took approximately seven months. However, the jump from US$35 trillion to US$36 trillion occurred in about three months, highlighting a significant acceleration in debt growth.
Russia's Sputnik News Agency estimates that the US$35 trillion mark was reached in 211 days at an average daily growth rate of 0.014%. In comparison, the US$36 trillion milestone was achieved much faster, with the debt growing daily at 0.025%. This means the US national debt is increasing by an estimated US$8.7 billion every 24 hours.
Related News:
Opinion | Short-sightedness of US presidential election Issues and its political consequences
US presidential candidates' touting of economic plans an election bluff or not?
Comment