National Debt Tops $32 Trillion for the First Time – By Yuval Rosenberg (The Fiscal Times) / June 16, 2023
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 public as well as that held by federal trust funds and other government accounts — reached $30 trillion for the first time in early 2022 and then hit $31 trillion less than nine months ago. As of the end of day Thursday, the debt stood at $32,039,244.
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