11:51 - 19.09.2023

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September 19, Fineko/abc.az. The national debt of the United States has exceeded $33 trillion for the first time, ABC.AZ reports with reference to the U.S. Treasury Department.

In the database on U.S. Treasury Department’s website in the column "total public debt" as of September 18, the amount of $33.04 trillion is listed. This is a record indicator of the US national debt. On June 16, it exceeded the $32 trillion mark.

In January, the U.S. debt ceiling, which was legally set at $31.4 trillion, was exceeded. After that, the U.S. Treasury Department was forced to use emergency measures to continue its financial operations. The U.S. administration has been calling on Congress in recent months to increase the debt limit. The Republicans controlling the House of Representatives agreed to raise the debt ceiling, but subject to significant budget cuts.

On June 3, U.S. President Joe Biden signed a bill approved earlier by Congress to raise the national debt ceiling. Now the limit will be reached on January 2, 2025. The initiative, which, according to the head of state, made it possible to prevent the economic crisis and the collapse of the United States, was approved by the Senate on June 1. On May 31, the House of Representatives did it. The agreement reached stipulates that in the 2024 fiscal year (starting in the country on October 1) $886 billion will be allocated for defense, $121 billion for medical care for veterans, $637 billion for other non-defense programs.