Recently, the latest data released by the U.S. Treasury Department shows that the size of the federal government’s debt has exceeded 31 trillion US dollars. .
In the context of the U.S. government's continued expansion of fiscal spending and the Fed's continuous interest rate hikes, the "savage growth" of U.S. government debt has raised concerns.
Data show that as of October 3, the outstanding U.S. federal government debt was about $31.1 trillion, which has greatly exceeded the U.S. gross domestic product of about $23 trillion for the whole of last year.
A research report released by the U.S. Bipartisan Center for Policy Research shows that the federal government has hit the then-$28.9 trillion debt ceiling at the end of October 2021.
Since then, the U.S. Treasury Department has taken unconventional measures to avoid debt defaults until the U.S. Congress passed legislation in December that year to raise the debt ceiling to $31.4 trillion.
(Making Yueziyan)
Responsible editor: [Song Yusheng]