The latest statistics by the US Treasury Department revealed the size of the US government debt, for the first time in history, exceeded the limits of $ 32 trillion.
Numbers shows that the total outstanding public debt amounted to 32 trillion, 39 billion, and 244 million dollars”.
It’s noteworthy that this figure was previously at the level of $31.95 trillion dollars.
In early June, US President Joe Biden signed into law a temporary increase in the general government debt ceiling through January 1, 2025.
This happened just days before the potential default, which, according to the Treasury Department, was likely to happen on June 5th.
Biden stressed that the crisis and collapse in the US economy had been averted, but the risks were higher than ever.