US national debt hits $33 trillion for the first time in history - as Congresscareens toward a...

Logo Daily MailDaily Mail
2023-09-19 16:00:45  • 3 mins

US national debt has surpassed $33 trillion for the first time - as lawmakers scramble to avoid a government shutdown at the end of the month.

The Treasury Department noted that debt reached $33.04 trillionon Monday, meaning it has spiked by $1.58 trillion since the debt ceiling was lifted in early June.

After years of extreme spending, the country reached its debt ceiling of $31.4 trillion in January and months later, inMay, PresidentBiden and House speaker Kevin McCarthy agreed to suspend the cap until January 2025.

Although the ceiling has now been lifted, Congressmust continue to devise ways to fund the government.

Funding is established through September 30, but beyond that new legislation will be needed.

That solution will require bipartisan support from the House, as there are still some HouseRepublicans that are unlikely to approve any extension of government spending.

On Sunday half a dozen Republicans announced a proposal to temporarily fund the government until October 31.

Continue read on

Key Points The national debt of the United States reached a historic milestone by passing $33 trillion for the first time, the Treasury Department said. The...
2023-09-19 17:18:17  • 1 min
The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming. Americas gross national debt exceeded $33 trillion...
Logo The New York TimesThe New York Times
2023-09-18 20:03:59  • 2 mins
The U.S. national debt has crossed the $33 trillion threshold for the first time, as reported by the Treasury Department on Monday. This milestone comes at a...
2023-09-19 07:42:47  • 2 mins
After weeks of debates and delays, the U.S. Senate passed bipartisan legislation to lift the federal debt ceiling just days before the June 5 deadline set by...
Logo NasdaqNasdaq
2023-09-20 15:35:13  • 1 min
The U.S. Treasury is preparing for a large-scale debt issuance next week, with plans to auction off 2-year notes worth $48 billion next Tuesday, as announced...
In recent developments, two officials from the Federal Reserve hinted on Friday at the possibility of an additional increase in interest rates. The move is...
2023-09-22 16:28:31  • 1 min
The Federal Reserve's aggressive rate-hiking campaign over the past 18 months has led to a surge in high-yield savings accounts, offering a silver lining to...
2023-09-22 13:16:22  • 1 min
The U.S. Treasury Department has revealed plans to auction off 5-year notes amounting to $49 billion on Wednesday, according to an announcement made on...
Key Points The stock of global debt rose $10 trillion in the first half of 2023, bringing it to a new record high of $307 trillion, according to a report by...
2023-09-20 08:23:08  • 1 min
U.S. lawmakers have less than ten days to come up with a spending bill to fund the U.S. government or risk a shutdown. An extended shutdown could roil the...
Logo NasdaqNasdaq
2023-09-22 15:50:00  • 1 min
By Christy Cooney and Nick Eardley BBC News Chancellor Jeremy Hunt has said it will be "virtually impossible" to deliver tax cuts until the UK economy...
2023-09-22 07:15:46  • 1 min
The Central Bank of Nigeria (CBN) reported on Thursday that the currency in circulation in Nigeria rose by N1.7 trillion to reach N2.7 trillion as of August...
2023-09-22 07:43:05  • 1 min
Yellen looks at one key statistic to determine if the U.S.'s national debt is sustainable, and she says it's "at a very reasonable level.
Logo FortuneFortune
2023-09-18 20:52:44  • 1 min
U.S. bond yields have climbed to a significant 17-year high this week, following the Federal Reserve's decision to maintain a higher interest rate stance at...
2023-09-22 05:58:12  • 1 min
Australian gov’t posts $14.2-B budget surplus after 15 years in the red AP-AS-Australia-Economy Sep 22, 2023 9:37 AM – 337 words By ROD McGUIRK Associated...
2023-09-22 08:31:26  • 1 min
During the next presidential term, publicly held debt is projected to exceed its Second World War highs.
Logo FortuneFortune
2023-09-21 17:01:12  • 1 min
The U.S. Federal Reserve is contemplating additional interest rate hikes this year in response to persistent inflation, according to Governor Michelle...
2023-09-22 18:37:21  • 1 min
Washington — A looming government shutdown has hundreds of thousands of federal employees worried that they could go without pay if Congress fails to reach a...
Logo CBS NewsCBS News
2023-09-22 20:30:56  • 1 min
This isn't the first indictment for the man who's been New Jersey's senator for the last 17 years and has been in office since 1986.
Logo FortuneFortune
2023-09-22 15:36:34  • 1 min
The dollar index ( DXY00 ) on Friday rose by +0.19%. The dollar Friday rallied to a new 6-1/2 month high on carryover support from Wednesday when the FOMC...
Logo NasdaqNasdaq
2023-09-22 19:47:08  • 1 min