US National Debt Hits All-Time High of $32 Trillion
The U.S. national debt has surpassed $32 trillion for the first time in U.S. history, Treasury Department data released on June 17 showed.
The national debt as of June 16 is at an all-time high of $32.04 trillion, according to the Treasury’s daily statement (pdf).
This represents about $25 trillion in debt held by the public, and about $7 trillion in intragovernmental debt (pdf).
It comes less than two weeks after President Joe Biden signed into law the Fiscal Responsibility Act. One provision of the June 3 legislation suspends the debt ceiling for 19 months, which means the government can continue to borrow money until the end of 2024….