U.S. national debt exceeds $30 trillion for first time

Posted on AllSides February 1st, 2022
From The Left
Photo: Win McNamee via Getty Images

The U.S. gross national debt exceeded $30 trillion for the first time on Tuesday, according to new figures from the Treasury.

Why it matters: The nation arrived at the number far earlier than projected due to the pandemic, which amped up federal spending into the trillions, the New York Times writes. The new record comes as the U.S. struggles to deal with worsening inflation.

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