US National Debt Surges to $34 Trillion — Exceeds Expectations by 9 Years 💸

The US national debt has hit a record $34 trillion, totaling over $100,000 per person in the U, according to a new Treasury Department report. The national debt surpassed $34 trillion years ahead of the Congressional Budget Office's pre-pandemic 2029 prediction, due to heavy borrowing in response to the economic shutdown from the multi-year pandemic starting in 2020. This borrowing, under Presidents Trump and Biden, aimed to stabilize and revive the economy but led to inflation and increased interest rates, raising the cost of government debt servicing.