The national debt of the United States of America rose by US$6.4 billion between Sunday and Monday, increasing to US$34.47 trillion as of Monday afternoon.
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Fox Business reported that the latest national debt figures, which measures what the United States owes its creditors was published by the U.S Treasury Department.
The U.S. national debt is climbing at an astronomical pace and has shown no signs of slowing down despite the heightened scrutiny on government spending.
Investogist reported during the Covid pandemic in 2020 that the U.S debt stood at US$26.13 trillion as at 15 June 2020. By the end of October 2023, the interest paid on U.S debt surpassed US$1 trillion on an annualized basis, according to a Bloomberg report.
By comparison, just four decades ago, the national debt hovered around $907 billion.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
