Economy ,
Feb 02, 05:00
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US national debt hits record $30 trillion
The US national debt hit a record $30 trillion, according to data Ministry of Finance. In the department’s report, in the column “total public debt” the amount of $ 30.012 trillion is indicated.
How notes The New York Times, the national debt reached this mark several years earlier than previously predicted. As the reason, the publication indicates the costs of combating the consequences of the coronavirus pandemic: unemployment benefits, support for small businesses. Money for these purposes was allocated from borrowed funds.
In December last year, US President Joe Biden signed into law an increase in the national debt limit by $2.5 trillion to $31.4 trillion. If not for this measure, the funds in the federal budget could run out by December 15, Treasury Secretary Janet Yellen warned. The National Debt Ceiling Act, which Congress suspended in August 2019, came back into effect this summer.
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