The relative indifference to the news that the U.S. government now owes $40 trillion demonstrates how drastically the politics of deficit spending has changed.
The US federal debt hit a record $40 trillion on Tuesday, according to the Treasury Department. CNN’s Stephanie Yang explains what has contributed to the mounting debt and how it could impact Americans, businesses, and the government for years to come.
AI:The United States federal debt has reached a staggering record high of $40 trillion, according to data from the Treasury Department. This massive accumulation of debt continues to grow as deficit spending persists, raising long-term concerns regarding its impact on the economy, American businesses, and government stability.Open
Perchance AI As government deficit spending diminishes economic growth, it pushes the nation’s economic output, the GDP, well below its potential.
'Severe and enduring'