The U.S. national debt has surpassed $32 trillion for the first time in U.S. history, Treasury Department data released on June 17 showed.
The national debt as of June 16 is at an all-time high of $32.04 trillion, according to the Treasury’s daily statement (pdf).
This represents about $25 trillion in debt held by the public, and about $7 trillion in intragovernmental debt (pdf).
It comes less than two weeks after President Joe Biden signed into law the Fiscal Responsibility Act. One provision of the June 3 legislation suspends the debt ceiling for 19 months, which means the government can continue to borrow money until the end of 2024.
The debt limit was previously increased in December 2021 to $31.4 trillion.
Source:
www.theepochtimes.com