On Oct. 22 local time, the latest data released by the U.S. Department of the Treasury showed that as of Oct. 21, the total debt of the U.S. federal government had exceeded US$38 trillion for the first time. This comes just over two months after the federal government's debt reached US$37 trillion in mid-August.
Maya MacGuineas, President of the U.S. Committee for a Responsible Federal Budget, stated that while the total federal debt may not be the best indicator of fiscal health, other aspects of the U.S. fiscal situation are equally concerning.
According to a report by CBS News, a potential U.S. federal government shutdown could increase the national debt, as it might delay economic activities and fiscal decisions, while suspending and restarting federal government programs could also lead to additional expenditures.
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