National Debt Tops $32 Trillion for the First Time
finance.yahoo.com
The U.S. national debt surpassed $32 trillion for the first time on Thursday, according to Treasury Department data released today. The milestone comes less than two weeks after President Joe Biden signed into law the Fiscal Responsibility Act of 2023, his compromise with Republicans led by House Speaker Kevin McCarthy to trim spending by a projected $1.5 trillion over a decade and suspend the nation’s debt limit until January 2025. Total public debt outstanding — which includes debt held by the
  • maporita@lemmy.ml
    ·
    1 year ago

    Spending money on worthwhile endeavors is a good thing, but you have to have the money to spend in the first place. If you don't and you just kick the can down the road it puts a much heavier burden on future generations. We need to get serious about raising taxes on those who do not pay their fair share.

    • ☆ Yσɠƚԋσʂ ☆@lemmy.mlM
      ·
      1 year ago

      Except, the money is being spent on a bloated military budget while US keeps cutting social services and other kinds of productive spending.