The national debt of the USA exceeded 33 trillion dollars for the first time.
At a time when the US Congress is trying to prevent a government shutdown by passing a new interim budget at the end of September, when the 2023 fiscal year will end, the country’s debt has risen to historic levels.
Michael Peterson, Chief Executive of the Peter G. Peterson Foundation, which works to address America’s long-term financial challenges, stated in his statement on the subject that the US national debt continues to increase by trillions of dollars while lawmakers are dragged from one short-term financial crisis to another.
The debt limit in the country in June “reckoning” Stating that the $32 trillion debt limit was exceeded, Peterson stated that he wanted policymakers to focus on the debt itself, which is the main problem, instead of partisan fights that do not solve the real financial problems of Americans.
The USA reached the debt limit of 31.4 trillion dollars on January 19, and the US Treasury began to take extraordinary measures to avoid exceeding the limit and preventing a possible default.
After long negotiations on the debt limit, an agreement was reached in Congress and US President Joe Biden signed the bill in June that will prevent the country from going into default by increasing the debt limit.
