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US national debt crosses record $40 trn, five months after it hit $39 trn
The national debt surpassed a record USD 40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit to make up an enormous share of federal spending. The milestone figure was recorded just five months after the US hit a record USD 39 trillion debt in March. It reached USD 38 trillion five months before that, in October. The unprecedented USD 40 trillion figure highlights competing administration pri…
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