US national debt has exceeded $39 trillion, just weeks into the US-Israeli conflict with Iran, contradicting President Donald Trump’s 2016 promise to eliminate the national debt within eight years.
The national debt has roughly doubled since Trump took office in January 2017, when it was $19.9 trillion.
This milestone comes amid efforts to pass major tax legislation, increase defense and immigration spending, and address the debt.
The Government Accountability Office has warned that rising government debt drives up borrowing costs and consumer prices for everyday Americans.
Advocates for a balanced budget also caution that continued borrowing and higher interest payments will force Americans to face tougher fiscal trade-offs in the future.
“We must recognize this alarming rate of growth and the significant financial burden we are putting on the next generation,” said Michael Peterson, CEO of the nonprofit Peter G. Peterson Foundation.
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– US National Debt Surpasses $39 Trillion Just Weeks Into Iran War
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