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US national debt hits record $34 trillion as Congress gears up for funding fight

Posted on AllSides January 2nd, 2024
From The Left
AP Photo/Patrick Semansky

The federal government’s gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America’s balance sheet in the coming years.

The U.S. Treasury Department issued a report Tuesday logging U.S. finances, which have become a source of tension in a politically divided Washington that could possibly see parts of the government shutdown without an annual budget in place.

Republican lawmakers and the White House agreed last June to temporarily lift the nation’s debt limit, staving off the risk of what...

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