As reported by the Treasury Department, the US national debt has surged by a staggering $167.9 billion within the last 20 days.
The debt is said to have spiked from around $34.393262 trillion at the beginning of this month to about $34.561173 trillion by March 20th, totaling a rise of $167.9 billion within that short period. This great surge has sparked warnings from financial experts like Citadel CEO Ken Griffin, who believes the country’s spending habits are unsustainable.
Griffin argues in an interview that the lack of public discussion about the national debt is enabling the government to borrow irresponsibly. He fears that the US credit rating could be downgraded if this trend continues, potentially leading to a debt crisis.
The soaring debt comes amid plans for a $7 trillion budget next year, marking a 20% increase in spending over the past two years. These spending levels are dangerously high and could have severe consequences for the US economy.
