Source: New York Post
Total US debt has topped $40 trillion for the first time, the Treasury Department said Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts. The Treasury’s latest daily cash and debt balances statement showed total public debt outstanding at $40. 047 trillion on Tuesday, a total that includes Treasury securities held by the public of $32.
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