US national debt reached record USD 37 trillion. The national debt eclipsed this new milestone years sooner than pre-pandemic projections. The Congressional Budget Office's January 2020 projections predicted the US reaching the milestone after fiscal year 2030. But the debt grew faster than expected as the COVID-19 pandemic shut down much of the US economy and the Trump and Biden administrations borrowed heavily to stabilise the national economy.
- News Source Indiatimes (Click to view full news): CLICK HERE
0 Comments:
Leave a Reply