US National Debt Surges $69,417,431,854 in One Day, Reaching All-Time High of $34,750,498,829,987
The new milestone comes after the nation’s outstanding debt jumped $69.41 billion in a single day, according to new numbers from the U.S. Treasury’s Debt to the Penny database.
According to a new report from the Congressional Budget Office (CBO), the country’s total outstanding public debt is projected to reach $50.7 trillion by the end of 2034.
The new projections are significantly higher than just four months ago, when the agency said it expected the debt to hit $48.3 trillion by 2034, equaling 116% of GDP.
The CBO predicts the rate of inflation will slow for the remainder of this year and next year.
