The US national debt has reached a new record high just one week after a massive spending bill cleared Congress.
The Treasury’s Debt to the Penny database shows the government’s mountain of debt surged $384.7 billion from July 3rd to the 9th.
That brings the total outstanding debt to an all-time high of $36.6 trillion.
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This rapid rise is largely driven by the refilling of the Treasury General Account (TGA), as the government resumes borrowing to cover delayed payments and restore cash reserves.
The spending bill, signed by President Trump, raised the debt ceiling by a whopping $5 trillion – the largest increase in US history.
The debt ceiling now stands at $41.1 trillion, averting default until 2027.
The wide-ranging legislation permanently extends the 2017
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