Economy / FinanceNorth America

CBO Warns Rising Debt will Reduce Americans’ Income as National Debt Hits All-Time High

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US National Debt Hits All-Time High of $34,667,000,000,000 As CBO Warns Rising Debt Will Reduce Americans’ Income The US national debt just hit a new all-time high of $34.667 trillion. New numbers from the Treasury Department’s Debt to the Penny system show the country’s national debt reached the milestone on Friday, May 31st. That’s a $677 billion increase from the start of 2024, when the nation’s debt stood at $33.990 trillion. The new record high comes amid a report from the Congressional Budget Office (CBO) warning that the greater the nation’s debt, the less money Americans will earn. “The current law debt trajectory will…

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