Watch: How will the US national debt affect American consumers and the world?
Summary
The US national debt has grown to $40 trillion, more than doubling in ten years. This increase comes from large government spending and rising interest payments under President Donald Trump and President Joe Biden.Key Facts
- The US national debt is now $40 trillion.
- In 2016, the debt was just under $20 trillion.
- The debt has increased due to heavy government spending.
- Both President Donald Trump’s and President Joe Biden’s administrations contributed to the rise.
- Higher interest payments have also added to the debt total.
- The growing debt can impact American consumers and the global economy.
- Treasury Department data provides these debt figures.
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