US National Debt Grows By Over $500Bln Since Beginning of July
A billboard displaying the U.S. national debt is displayed along the Las Vegas Strip, Wednesday, March 18, 2020
WASHINGTON (Sputnik) — The national debt of the United States has increased by more than $500 billion since July 1 and has come close to a record high of $40 trillion, RIA Novosti calculated based on data from the US Treasury Department. In early July, that number was $39.389 trillion, by mid-August, the figure reached $39.913 trillion. Thus, the net increase in less than a month and a half amounted to $524.22 billion. In the first 10 months of the 2026 fiscal year alone, the US government allocated a record $963 billion to service and pay interest on the national debt, RIA Novosti previously found out based on data from the Congressional Budget Office. In the future, the debt burden will only increase. According to the congressional estimates, the US national debt will continue to grow continuously over the next decade. As early as fiscal year 2027, the figure is expected to exceed $41.3 trillion, the psychological mark of 50 trillion will be reached by 2033, and by fiscal year 2036 it will reach more than $56.2 trillion.
AmericasUS National Debt Exceeds Size of Economy for 1st Time Since End of World War II – Reports1 May, 12:42 GMT
