US National Debt Hits Record $38 Trillion
According to newly released fiscal data, the United States' total national debt has surpassed $38 trillion for the first time, marking a historic economic milestone.
Summary
New data released on October 23 revealed that the U.S. national debt has reached $38 trillion for the first time in history. This unprecedented figure underscores the scale of federal borrowing and marks a significant economic milestone for the country.
Terms & Concepts
- National Debt: The total amount of money that a country's government has borrowed, typically through issuing securities, and has yet to repay.